Brazil's Renova completes sale of 305-MW wind portfolio to AES Brasil

Brazil's Copel Cutia Wind Complex in Rio Grande do Norte

July 29 (Renewables Now) - Brazilian renewables company Renova Energia SA (BVMF:RNEW11) has concluded the sale of a 305-MW wind portfolio to peer AES Brasil Energia SA (BVMF:AESB3) for BRL 42 million (USD 7.9m/EUR 7.8m).

Under the deal, Renova transferred its entire interest in the portfolio named Cordilheira dos Ventos Centrais Eolicas Ltda to AES GF1 Holding SA, a wholly-owned subsidiary of AES Brasil.

AES acquired the wind development after winning a competitive sale process in March.

According to a previous announcement, the portfolio consists of a portion of the Facheiro II, Facheiro III and Laboco wind projects. Together, they form the 620-MW Cordilheira dos Ventos wind project in Rio Grande do Norte state.

Renova Energia, which is going through a judicial reorganisation process, will use the proceeds from the sale to settle secured and unsecured creditors as well as cover its operating expenses, including subsidiaries.

(BRL 1.0 = USD 0.190/EUR 0.188)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
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.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\