Brazilian energy company Engie Brasil Energia SA announced on Thursday (March 17) that it has completed the acquisition of two solar photovoltaic (PV) farms with a combined capacity of 259.8 MWp in Brazil.

Engie Brasil acquired the plants from Engie Solar SAS, Solairedirect Investment Management SA and Drankensberg Capital 1 SA for a total of BRL 625 million ($122.6 million/€110.9 million). According to the announcement, the buyer also took over a net debt of approximately BRL 620 million with the Brazilian Development Bank (BNDES).

The acquisition makes Engie Brasil the owner of the 158.3 MWp Paracatu and 101.5 MWp Floresta plants.

Paracatu has been operating since February 2019 and benefited from its 20-year sales agreement for 34 megawatts (MWa). The Floresta solar power plant has been operating since December 2017 with a capacity of 101.5 MW and a 20-year contract with a capacity of 25.1 MW.