Petrobras signs contract for Mangue Seco 2 sale

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/04/2020, informs that it signed today with Fundo de Investimento em Participações Multiestratégia Pirineus (FIP Pirineus), a contract for the sale of its entire 51% interest in the capital of Eólica Mangue Seco 2 – Geradora e Comercializadora de Energia Elétrica S.A. (Eólica Mangue Seco 2), owner of a wind power generation plant.

The sale price is R$ 32.97 million, to be paid in a single installment at the closing of the transaction, subject to the adjustments provided for in the contract.  The transaction results from the exercise of the preemptive right by FIP Pirineus, in accordance with the shareholders’ agreement of Eólica Mangue Seco 2.

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

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

This transaction 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 2 

Eólica Mangue Seco 2 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 2 owns and operates a wind farm, with a capacity of 26 MW. 

Petrobras had already signed contracts for the sale of its interest in the wind farms Mangue Seco 1, 3 and 4, on January 7, 2021, as disclosed to the market.

About FIP Pirineus 

FIP Pirineus was established on September 25, 2015 and aims to invest in companies in the renewable energy sector, including wind and solar photovoltaic complexes and the development of disruptive technology. FIP Pirineus acts proactively in its investee companies, with effective influence on the definition of their strategic policy and management. Currently, the fund is a partner of Petrobras in Eólica Mangue Seco 2, holding 49% of the company’s capital stock.

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