AES Tietê, a unit of US power utility AES Corp, has agreed to buy the 386MW wind power complex Alto Sertão 2 from Brazilian renewables firm Renova Energia for R$650m ($202m).
The deal marks the entry of AES into Brazil’s wind sector, although it already has a project pipeline of solar PV projects ready for tenders.
“The potential acquisition is in line with AES Tietê’s growth strategy to raise non-hydro power generation to account for 50% of the company’s Ebitda [with] long-term regulated market PPAs, reiterating the company’s commitment for investments in the country,” AES Tietê said in a statement to the Brazilian stock exchange.
The
