Brazilian courts named accountants KPMG to manage troubled Renova Energia, after accepting the renewable energy group's bankruptcy protection proceedings against R$3.1bn ($760m) of debts.

Osana Mendonça, a partner at the local KPMG unit, will be the judicial overseer of Renova's debt restructuring plan, which has yet to be presented to creditors.

Most of the debt is owed to the banks, especially a R$1bn bridge loan to the National Development Bank (BNDES) that financed most of the Alto Sertão III wind farm, the last large project under construction by Renova.