AES Brasil approves follow-on stock offering

The Tucano Wind Complex in Brazil. Source: AES Tiete

September 20 (Renewables Now) - Brazilian energy company AES Brasil Energia SA (BVMF:AESB3) announced on Friday that its board of directors has approved a restricted follow-on share offering.

According to the securities filing, the move includes a primary distribution of 93,000,000 of its registered common shares with no par value as a base offering. The papers can be offered to no more than 75 professional investors in Brazil; qualified institutional buyers in the US; and certain institutional and other investors outside both countries that are not US persons.

In accordance with the regulations of Brazil's Securities and Exchange Commission (CVM), the total number of shares offered may be increased by up to 42.53%, or up to 39.55 million shares, at the same offering price. These additional shares will be offered and sold by BNDES Participacoes SA (BNDESPAR).

AES Brasil has a total installed capacity of 4.4 GW, of which 2,658.4 MW comes from hydro, 1,435.9 MW from wind and 294.1 MW from solar assets, the company said previously. At present, it is also developing up to 1.5 GW of wind and solar projects.

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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