Canadians buy wind farms at Casa dos Ventos in Pernambuco and Piauí


Two months after the American giant Blackstone became the majority shareholder of Cone’s 13 logistics warehouse assets, another transaction concerns important assets in Pernambuco. Cubico, a company formed by Banco Santander and two Canadian pension funds, has completed the purchase of two wind farms in northeastern Brazil for 2 billion reais, including debt assumption. According to the company’s director for Brazil, Eduardo Klepacz, the agreement concerns 392 megawatts of parks in Pernambuco and Piauí, already in operation and negotiated with the developer Casa dos Ventos. At the end of November, the assets of Blackstone and Cone, a company specializing in logistics co-ownership and with clients such as Grupo Pão de Açúcar (GPA) and Fedex, Cone formed a joint venture with Blackstone to manage half of the warehouses in operation in the Complex. Industrial Port of Suape, representing 331 thousand square meters of built area. In addition to this sale of stake to Blackstone, Cone will also be a new channel for the foreign group for acquisitions in Brazil. It was the first company in the Northeast. Blackstone acquired Cone’s logistics warehouses, which already work with large clients and also cover 1.1 million m² of expansion space. Cone is pursuing other investments on its own, such as those in Aratu, in Bahia, and the second Jeep supplier park, in Goiana (Zona da Mata Norte do Estado), both of which will be put into service next year. However, as Cone Executive Director Marcos Roberto Moura Dubeux pointed out, the operation of the joint venture opens a path for the people of Pernambuco to facilitate other activities in addition to the construction of logistics condominiums; and also start acquiring other companies. In the case of Cubico, created last year to invest in renewable energy and sanitation in Latin America and Europe, it inherited Santander’s energy assets, meaning the transaction brings the company to a portfolio total in Brazil of 615 megawatts in wind farms, all already in operation. The company’s focus mainly includes wind projects, but also solar and small hydroelectric plants, all of which Santander already works with or has worked on other opportunities. In addition to Santander, the company’s shareholders include the Ontario Teachers’ Pension Fund and the Canadian Pension Fund Administrator.

Megan Schneider

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