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Brazil's Aneel rejects AES, Renova deal for 305-MW wind project

Wind farm in Brazil. Author: Otávio Nogueira. License: Creative Commons, Attribution 2.0 Generic.

June 5 (Renewables Now) - Brazilian power sector regulator Aneel has rejected a request from Renova Energia SA (BVMF:RNEW11) to transfer the 305-MW Phase B of the 743-MW Alto Sertao III wind power complex to energy firm AES Tiete Energia SA.

Renova clarifies that Aneel's decision only concerns Phase B of the project, which means that negotiations with AES continue.

AES Tiete, in turn, said as quoted by Reuters that it will reassess its interest in the acquisition of Phase B.

Back in April, the companies entered into a deal for AES Tiete to buy the wind complex, divided into Phase A (438 MW) and Phase B (305 MW), plus a 1.1-GW wind project pipeline for BRL 516 million (USD 133.8m/EUR 118.9m) in total. Under the terms of the agreement, AES Tiete would also assume BRL 998 million in debt.

(BRL 1 = USD 0.26/EUR 0.23)

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Browse all articles from Lucas Morais

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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