Acquisition

Impsa Sells Brazil Wind Parks as It Readies Bond Restructuring

Industrias Metalurgicas Pescarmona SA, the Argentine wind-turbine maker owned by the Pescarmona family and known as Impsa, agreed to sell holdings in wind parks in Brazil to a local developer as it prepares to restructure its debt.

Bloomberg News
20/11/2014 14:44
Visualizações: 3036 (0) (0) (0) (0)

Industrias Metalurgicas Pescarmona SA, the Argentine wind-turbine maker owned by the Pescarmona family and known as Impsa, agreed to sell holdings in wind parks in Brazil to a local developer as it prepares to restructure its debt.

 

Ventos de Sao Jorge Energias Renovaveis SA, a Fortaleza, Brazil-based wind-power developer owned by the Salus investment fund, agreed to buy stakes in five wind farms from Impsa-run Energimp SA, according to a filing to Brazil’s antitrust regulator. The price wasn’t disclosed.

 

Ismael Jadur, Impsa’s manager of institutional relations, didn’t reply to an e-mail and a call seeking comment. Impsa, owned by Mendoza, Argentina-based Venti SA, said earlier this year that its Brazilian sister company Wind Power Energia SA, or WPE, was seeking to sell assets to cut debt.

 

The Pescarmona group is seeking a bailout from the Argentine government after delayed payments from its biggest clients in Venezuela and Brazil led to a cash-flow shortage. Impsa has said it hired an adviser to restructure its debt and will soon present a restructuring offer to creditor.

 

Venti, Impsa and WPE were downgraded to default this week by Fitch Ratings after the three companies failed to meet a Sept. 30 interest payment on a $390 million bond due 2020. Impsa has cross-default clauses with WPE.

 

Pescarmona’s total generation assets in Brazil may be worth as much as 4.9 billion reais ($1.9 billion), according to Bloomberg New Energy Finance, including 330 megawatts of wind farms in operation and 480 megawatts under construction. It’s the third-biggest producer of wind energy in the country with a market share of 6.4 percent. Wind turbines account for 90 percent of its revenue.

Most Read Today
see see
BOGE2026
Smart Control Gains Prominence at Bahia Oil & Gas Energy...
09/06/26
BOGE2026
Bahia Oil & Gas Energy Concludes Historic Edition and Se...
06/06/26
Branded Content
Boaventura Energy Complex drives Brazil’s energy future ...
06/06/26
BOGE2026
Mayekawa do Brasil present at Bahia Oil & Gas Energy
06/06/26
BOGE2026
Benel Marks Presence at Bahia Oil & Gas Energy and Annou...
02/06/26
BOGE2026
Bahiagás Highlights Bahia’s Leading Role in the Energy T...
30/05/26
Investments
Petrobras Announces Investments of More Than R$ 70 Billi...
30/05/26
BOGE2026
Oil States Reinforces Commitment to Innovation and Opera...
29/05/26
BOGE2026
PetroReconcavo Discusses the Future of Oil and Gas at Ba...
29/05/26
BOGE2026
Lumina Group Makes Its Presence Felt at Bahia Oil & Gas ...
29/05/26
BOGE2026
Bahia Brings Together Industry, Innovation, and Business...
28/05/26
Royalties
Amounts related to March production for concession and t...
28/05/26
BOGE2026
Oil & Gas Expansion Boosts Demand for Industrial Waste T...
28/05/26
BOGE2026
BRAVA Energia Marks Presence at Bahia Oil & Gas Energy 2...
27/05/26
IBP
Brazil Can Expand Its Prominence as a Global Energy Supp...
27/05/26
Investments
Petrobras and Transpetro announce R$ 2.8 billion in inve...
27/05/26
International Company News
Jumbo orders a new class of versatile heavy lift vessels
27/05/26
BOGE2026
The Largest Oil and Gas Event in the North and Northeast...
25/05/26
BOGE2026
With production on the rise, independent players lead di...
25/05/26
ANP
ANP Workshop Debates Boosting Oil and Gas Exploration in...
25/05/26
BOGE2026
ANP participates in Bahia Oil & Gas Energy 2026, in Salvador
25/05/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.