The complex transaction, which involved the sale of 294.4MW of wind and 41.8MW of small hydro, and share swaps in the first phase, earned Renova R$666.5m in capital gains. The whole transaction is estimated at R$1.6bn, including the R$1bn value of share swaps.
The second phase, which involves TerraForm Global's option to buy Renova's 2.2GW project pipeline under construction, has yet to be concluded.
Still,
