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CPPIB, Votorantim create power JV

CPPIB, Votorantim create power JV

December 19, 2017 | Toni Baini
Canadian pension plan puts in $210m in equity, while Brazilian conglomerate contributes an operating power plant to the new venture

M&A Brazil Electricity

Canada Pension Plan Investment Board (CPPIB) and the Brazilian conglomerate Votorantim have agreed to form a joint venture to invest in power generation projects in Brazil. CPPIB said it has initially put in BRL690m ($210m) in equity, while Votorantim Energia has contributed the Ventos do Piauí I wind farm to the partnership. The new venture has also agreed to buy the Ventos do Araripe III wind farm from the local developer Casa dos Ventos for an undisclosed amount. The 206MW Piauí I involves BR

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