Enel Green Power Brasil Participacoes has sold two solar plants and a wind farm in Brazil totalling 540MW to Chinese company CGN Energy International Holdings for €660m.
The projects are the 292MW Nova Olinda solar farm in the state of Piaui, the 158MW Lapa PV project in Bahia and the 90MW Cristalandia wind farm also in Bahia.
Lapa and Nova Olinda are supported by 20-year supply contracts with the Brazilian Chamber of Commercialisation of Electric Energy.
Cristalandia is supported by 20-year power purchase agreements with a pool of Brazilian electricity distribution companies.
Nova Olinda comprises 930,000 solar panels across an area of 690 hectares and can generate over 600 gigawatt-hours of electricity a year.
Lapa consists of about 500,000 panels and is able to generate around 340GWh a year, while Cristalandia is capable of generating around 350GWh/y.
Enel said the transaction aims to maximise and accelerate value creation by rotating assets to free up resources to be invested in new projects.