AES Brasil names new CEO amid USD-1.4bn investment run
The Tucano Wind Complex in Brazil. Source: AES Tiete
AES Brasil (B3:TIET11), formely AES Tiete Energia SA, said on Wednesday its administrative council has appointed Clarissa Sadock as the company’s new CEO.
The new head will succeed Italo Freitas who is now AES' New Business vice-president in South America.
Sadock, who has 16 years of experience in the company and up until now served as the vice president of Finance and Investor Relations, said AES Brasil is very well positioned to accelerate its growth in the country.
AES Brasil plans to invest over BRL 7.5 billion (USD 1.4bn/EUR 1.2bn) in new generation projects to elevate its installed capacity from 3.9 GW to 5.2 GW in the next years.
At present, the renewables firm is building a 322-MW wind complex in Bahia, while also preparing to start the development of a BRL-6-billion complex in Rio Grande do Norte. In addition, AES Brasil plans around 3 GW of new projects, for development or potential acquisition.
Recently, the company concluded the acquisition of the 187-MW Ventus Wind Complex in Rio Grande do Norte.