Gustavo Ribeiro, chief executive of Ibitu, said in the statement that Castlelake intends to double its power generation capacity in Brazil in collaboration with his company, by acquiring or building new power plants
SAO PAULO: US-based asset manager Castlelake LP plans to invest roughly 4.5 billion reais ($839.43 million) in renewable energy assets in Brazil in the coming five years, the firm said in a statement on Wednesday.
The commitment comes after Castlelake reached an agreement with Brazil’s engineering group Queiroz Galvao last year to acquire a hydroelectric facility and wind power plants with a combined capacity of 832 megawatts, part of a project dubbed Ibitu Energia.
Gustavo Ribeiro, chief executive of Ibitu, said in the statement that Castlelake intends to double its power generation capacity in Brazil in collaboration with his company, by acquiring or building new power plants.
Castlelake is also considering new solar and wind projects totaling 1.2 gigawatts, the statement said.
Source: reuters
