Thursday, May 19 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of May 16
Week of May 09
Week of May 02
Week of Apr 25
Week of Apr 18
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Renova accepts AES offer to buy 305-MW wind project in Brazil

    January 28, 2022 - SeeNews Renewables


      January 28 (Renewables Now) - Brazilian renewables developer Renova Energia SA (BVMF:RNEW11) has accepted a proposal by a unit of AES Corp (NYSE:AES) to acquire a 305-MW portion of its 620-MW Cordilheira dos Ventos wind project.

      The transaction is subject to conditions such as the conclusion of a competitive process to be held in March for the portion in question. AES will act as the stalking horse bidder.

      According to a filing on Thursday night, this move is part of Renova's ongoing judicial reorganisation process. Part of the proceeds raised from this deal will be used for the fulfilment of its debt obligations to lenders BNDES and Citibank, as well as to local utility Cemig (BVMF:CMIG4). The company's debt currently amounts to BRL 2 billion (USD 371m/EUR 332m), with an expected payment term of 10 years.

      Renova will continue to own the remaining 315-MW portion of the Cordilheira dos Ventos wind complex.

      (BRL 1.0 = USD 0.186/EUR 0.166)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.