en.Wedoany.com Reported - Brazilian company Sylvamo (parent company of Chamex) has acquired a 49.9% stake in a holding company by exercising a purchase option. This holding company holds equity in four special purpose entities of Engie Brasil, which operate wind power assets in the state of Bahia.

The aforementioned wind power project is part of the Umburanas complex, with an installed capacity of 360 MW, consisting of 144 wind turbines of 2.5 MW each, distributed across 18 wind farms.

The core objective of this transaction is to provide a stable supply of renewable energy for Sylvamo's own electricity consumption through the equivalent mechanism of self-generated power. Through this initiative, Sylvamo further advances its wind energy supply strategy, aiming to enhance cost predictability, ensure supply security, and accelerate progress toward sustainable development goals.

Sylvamo is a multinational company with three industrial units in Brazil, operating in the pulp, paper, and packaging sectors, with brands including Chamex, Chamequinho, and HP.

The relevant agreement was approved by the Administrative Council for Economic Defense (Cade) on Monday (July 6) and will be notified to the National Electric Energy Agency (Aneel) and the Electric Energy Commercialization Chamber (CCEE) in a purely informational manner.

In the filing submitted to Cade, Sylvamo noted that the transaction provides an opportunity to meet its high electricity demand while helping to maintain its commitment to sustainability and reducing greenhouse gas emissions.

Engie Group, on its part, stated that the agreement represents a business opportunity aligned with its strategy of developing, implementing, and operating power generation projects, particularly clean and renewable energy projects.