AES Tietê concludes US$190mn wind acquisition
Brazil's AES Tietê has concluded the 600mn-real (US$190mn) acquisition of Nova Energia Holding from Renova Energia, the companies said in separate security filings.
In addition to the purchase price, AES Tietê will assume project-related debt of 1.15bn reais.
Nova Energia operates the 386MW Alto Sertão II wind complex in Brazil's northeastern state of Bahia.
The company secured 20-year power purchase agreements for the complex at regulated market auctions in 2010 and 2011.
A subsidiary of Belo Horizonte-based group Cemig, Renova sank into crisis in December 2015 when US solar developer SunEdison aborted a planned US$3.45bn takeover of the firm's wind and hydropower assets.
Last August, the company slashed 4bn reais from its investment plan after cancelling 736MW of wind and solar projects.
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