(Yicai Global) June 26 -- China General Nuclear Power, the nation's largest company in the nuclear sector, has bought Brazil's Gamma project on its path to becoming the fifth-largest clean energy producer in the South American country.
CGN penned an equity transfer deal with Italy's Enel about the plant located in northeastern Brazil, Economic Daily reported yesterday. The Shenzhen-based firm set up a local unit called CGN Brazil New Energy Holdings, planning to acquire another clean energy project in the country soon, the report added.
Gamma went into operation in the second half of 2017. The project has a total installed capacity of 540,000 kilowatts, including two solar energy projects totaling 450,000 kW and one 90,000 kW wind park.
CGN will rely on its new Brazilian unit to do business locally as well as expand to surrounding countries, such as Mexico, Argentina and Chile, finally covering the entire South America, said Chairman He Yu.
CGN has business in over 20 countries, hiring more than 4,000 employees. Its overseas assets made up 18 percent of the total at the end of last year.
Editor: Emmi Laine