Renewable-energy assets set to change hands through 2022

At least four large-scale renewable-energy firms are putting assets up for sale in Brazil, attracting admiring gazes domestically and internationally. The two main ventures - Ibitu and Rio Energy - are valued at R$12bil; the other two are Renova Energia, in judicial recovery and in debt to the tune of almost R$2bil, and EDP Renovaveis, operating an asset-rotation strategy. An Itau BBA report states that in 2021 a total of 22 transactions in the sector were sealed to the tune of R$16bil. This year's total is likely to rise in value by 25% to reach R$20bil. Put up for sale in mid-2021, Ibitu, controlled by Castlelake, boasts wind-power and hydroelectric assets in Ceara, Rio Grande do Norte, Piaui, Santa Catarina, Mato Grosso and Minas Gerais adding up to 877 MW and valued at around US$950mil. Rio Energy, controlled by Denham Capital, has called in the Bank of America (BofA) and Itau BBA to help it sell assets valued at R$6bil including three wind-farms (485 MW between them) already operating and three more due to start up in 2022.