AES buys Renova wind farm

AES buys Renova wind farm

Brazil M&A Project & Infrastructure Finance

AES Tiete has agreed to buy the Alto Sertao II wind farm from power generator Renova Energia for BRL600m ($190m).The purchase price could rise by $100m if output from the 386 MW wind power project exceeds unspecified minimum levels, AES Tiete said in a statement. The company also said it will assume BRL1.15bn in project debt as part of the transaction. AES Tiete, a Brazilian subsidiary of US power company AES Corp, offered BRL650m for the Alto Sertao II in January, assuming an earn-out

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