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Eletrobras to continue sale of wind power SPEs next month - report

Wind turbines at work. Author: Nick Cross. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

June 10 (Renewables Now) - Brazilian power distributor Centrais Eletricas Brasileiras SA (BVMF:ELET3), or Eletrobras, intends to resume by next month the sale of 44 special purpose companies (SPEs) holding wind farms and transmission lines.

The announcement was made by Eletrobras' Chief Executive Officer Wilson Ferreira Jr and reported by local newspapers Estadao and InfoMoney on Friday. According to the executive, the company is looking to sell the assets that did not find buyers in an auction held last year.

Eletrobras will adopt a similar model to what oil and gas giant Petroleo Brasileiro SA (BVMF:PETR4), or Petrobras, has been using in its own divestment programme. The state-controlled power firm expects to conclude the sales before the end of the year.

The statement comes after the country's Supreme Court ruled on Thursday that firms owned by the government do not need approval from congress for divestitures.

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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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