Verene Energia, a power transmission platform, and its owner CDPQ, a global investment group, announced an agreement with Equatorial Energia S. A. for the acquisition of SPE 7, a strategic and modern power transmission network spanning 124 kilometres in the state of Pará, in northern Brazil.

The transaction, valued at up to CAD 210 million (BRL 841 million), marks CDPQ's third power transmission investment in Latin America in two years, following the acquisition of power lines extending nearly 1,800 kilometres in Brazil and Uruguay, which are now part of Verene Energia, a power transmission platform launched by CDPQ.

Financial close is expected by December 2024, subject to customary closing conditions and relevant consents and approval.

Pinheiro Neto Advogados advised CDPQ.