Petrobras Starts Binding Phase Of Wind Farms

(Petrobras, 12.Jun.2020) — Petrobras, following up on the press release disclosed on 13 March 2020 and 4 May 2020, announces the beginning of the binding phase regarding the joint sale, with Wobben Windpower Indústria e Comércio Ltda (Wobben), of all of its shares (51% Wobben and 49% Petrobras) in the companies Eólica Mangue Seco 3 – Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 3) and Eólica Mangue Seco 4 – Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 4), owners of wind power plants.

Qualified parties for the biding phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure is in accordance with the Petrobras’ divestment guidelines, which is aligned with the special regime of asset divestment by federal mixed-capital companies, provided for in Decree 9,188/2017.

These transactions are in line with the portfolio optimization and the improvement of company’s capital allocation, aiming at maximizing value for its shareholders.

About Eólica Mangue Seco 3 and Eólica Mangue Seco 4 wind farms

Eólica Mangue Seco 3 and Eólica Mangue Seco 4 are located in Guamaré, in the State of Rio Grande do Norte, and are part of a complex of four wind farms (Mangue Seco 1, Mangue Seco 2, Mangue Seco 3 e Mangue Seco 4) with total installed capacity of 104 MW. Eólica Mangue Seco 3 and Eólica Mangue Seco 4 owns and operates two of them with a total capacity of 52 MW, each of 26 MW. 

Eólica Mangue Seco 1 and Eólica Mangue Seco 2 wind farms are also in the process of divestment, as disclosed on 31 January 2020 and 4 May 2020. __________

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