Brookfield Asset Management is poised to deepen its global renewables footprint by buying into – and eventually taking control at – Brazilian renewables developer Renova Energia, according to reports.
Brookfield will acquire a 20.3% stake in Renova held by local power company Light, reported news agency Reuters citing a source with first-hand knowledge of the matter.
Toronto-based Brookfield is then set to inject R800m ($257m) into the developer, leaving it with the largest stake in the business and replacing its current controlling shareholder Cemig, the public power company of Brazil’s Minas Gerais state.
