Brazil CPFL Renovaveis says USD 2.6bn investment refers to 2011-2015 - report

(SeeNews) - Mar 12, 2013 - Brazil's CPFL Renovaveis said that the announced BRL 5 billion (USD 2.6bn/EUR 1.9bn) investment refers to the period 2011-2015 and not 2013-2015 like reported last week by local energy news portal Canal Energia.

Canal Energia corrected the information yesterday, explaining that the company will invest as much as BRL 2 billion in the next years in order to complete 582 MW in projects already in development.

In 2013 alone, CPFL Renovaveis will put BRL 1.1 billion in the expansion of its power generation capacity, the portal also wrote.

CPFL Renovaveis was formed in 2011 via the merger of the renewable assets of Brazil's power firm CPFL Energia (SAO:CPFE3) and green energy investment player ERSA. Its current project development portfolio stands at 3.8 GW.

(BRL 1 = USD 0.511/EUR 0.39)

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