AES Tiete looking at over 1 GW of renewables for possible acquisition - report

Wind turbine. Sten Dueland. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

May 8 (Renewables Now) - Brazilian energy company AES Tiete Energia SA (B3:TIET11) ponders over the potential acquisition of more than 1 GW of renewable energy assets, the company's president, Italo Freitas, was quoted by Reuters as saying on Thursday.

Freitas spoke at a conference call with analysts and investors, where he said that the firm is interested in both plants that are already operating and wind and solar projects under development.

In the meantime, the company is also holding talks regarding a project pipeline that includes 1.2 GW of wind and 1.7 GW of solar assets. Moreover, AES Tiete has recently agreed to acquire a 1.1-GW greenfield wind project in Rio Grande do Norte state.

During the conference, Freitas also mentioned that the company would be open to evaluating a new merger offer from Eneva SA (B3:ENEV3). On March 1, Eneva made a binding cash-and-stock proposal that was eventually turned down by AES Tiete, which led to the end of negotiations last month.

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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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