Through this acquisition, the company will form a joint venture partnership with Desenvix’s current owners Jackson and Funcef to focus on further hydropower development in Brazil.
SN Power and Jackson will jointly control Desenvix with a 40.65% interest each, while Funcef will retain a 18.69% stake.
The transaction, which is subject to approval from Brazilian regulators, also includes Desenvix’s 50% interest in Enex, a company specializing in operation & maintenance of small and medium sized hydropower plants.
Desenvix, the power generation arm of Brazilian engineering firm ENGEVIX, has a portfolio of renewable energy assets of 162MW in operation, 176MW under construction, as well as a large portfolio of projects under development of about 1,600MW.
