Joint venture Alianca Geracao de Energia SA is evaluating Renova’s Alto Sertao III complex in the northeastern state of Bahia, which when complete will have capacity of roughly 400 megawatts, the sources said, declining to be named as the talks are confidential
SAO PAULO: A joint venture between Brazilian miner Vale SA and utility Companhia Energetica de Minas Gerais is considering acquiring an unfinished wind park from Renova Energia SA, three people familiar with the matter told Reuters on Tuesday.
Joint venture Alianca Geracao de Energia SA is evaluating Renova’s Alto Sertao III complex in the northeastern state of Bahia, which when complete will have capacity of roughly 400 megawatts, the sources said, declining to be named as the talks are confidential.
Renova Energia and Cemig did not immediately respond to request for comment. Alianca Geracao declined to comment.
The complex has generated interest among half a dozen potential buyers, including Alianca Geracao, one of the people said.
“There are various proposed buyers, not just Alianca. No one has been given exclusivity,” a second source said. The sources declined to name other potential buyers.
Renova, which is owned by Cemig and its subsidiary Light SA , had tentatively agreed to sell Alto Sertao III to a unit of Brookfield Asset Management Inc for 650 million reais ($169.13 million) but the deal was later called off. Renova had invested 390 million reais in the project before halting work at the end of 2016 due to lack of resources. ($1 = 3.8433 reais)
Source: reuters
