Canadian investment fund Brookfield Asset Management has backed down from buying control of Brazilian renewable energy developer, Renova Energia, and has proposed instead to buy the 411MW Alto Sertão III wind complex and a 1.1GW projects pipeline.
Renova’s board of directors will now appraise the new offer and has given Brookfield up to 60 days exclusivity period, Renova Energia said in a statement to CVM, Brazil’s SEC.
