RENOVA ENERGIA S.A. Renova Energia S.A. (BOVESPA:RNEW11) agreed to acquire 305-MW Cordilheira dos Ventos Wind Project from The AES Corporation (NYSE:AES) on January 28, 2022. Renova will continue to own the remaining 315-MW portion of the Cordilheira dos Ventos wind complex. AES will act as the stalking horse bidder.
The transaction is subject to conditions such as the conclusion of a competitive process to be held in March for the portion in question. 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).
