Petrobras Inks Deal To Divest Mangue Seco 1

(Petrobras, 7.Jan.2021) — Petrobras, following up on the release disclosed on 4 May 2020, informs that it signed today with V2I Transmissão de Energia Elétrica S.A., with Vinci Infraestrutura Gestora de Recursos Ltda. as manager, a contract for the sale of the totality of its stake of 49% in Eólica Mangue Seco 1 – Geradora e Comercializadora de Energia Elétrica S.A., which own and operate the wind power farm with the same name.

The value of the sale is R$42.5mn, to be paid in a single installment at the closing of the transaction, subject to adjustments defined in the agreement. 

The closing of the transaction is subject to the fulfillment of previous conditions, such as the approval by Banco do Nordeste do Brasil, the wind farm development financer, and the Administrative Council for Economic Defense (CADE).  

The disinvestment process of Eólica Mangue Seco 2 – Geradora e Comercializadora de Energia Elétrica S.A. continues in progress, in the binding phase for the sale of 51%, the totality of Petrobras’ stake in the company.

The present disclosure is in accordance with the internal rules of Petrobras and with the special regime of asset disinvestment by the federal mixed economy societies, foreseen in the Decree 9.188/2017. 

This operation is aligned to the strategy of portfolio optimization and the improvement of the company’s capital allocation, aiming the maximization of value for its shareholders.

About Eólica Mangue Seco 1 

Eólica Mangue Seco 1 is part of a complex of four wind farms (Mangue Seco 1, Mangue Seco 2, Mangue Seco 3 and Mangue Seco 4) located in Guamaré, in the state of Rio Grande do Norte, with a total installed capacity of 104 MW. Eólica Mangue Seco 1 owns and operates a wind farm with 26 MW capacity.