Spanish renewables company Acciona Energia is to acquire two under development onshore wind farms in Brazil totalling 850MW from Casa dos Ventos for an undisclosed price.
The projects are the Sento Se 1 and 2 located in the state of Bahia in the north-east of the country.
The transaction is subject to the fulfilment of certain conditions and the mandatory approval required from competition authorities.
The deal marks Acciona Energia's entry into the Brazilian renewables market.
Sento Se 1 and 2 are currently in the process of obtaining all the necessary permits and authorisations prior to execution, Acciona said.
Once these are obtained, the company can proceed to approve the investment and start construction next year.
The development of both wind farms would involve an investment of €800m, it said.
The company is exploring other wind and solar opportunities in the country.