AES Tietê calls off Alto Sertão talks

AES Tietê calls off Alto Sertão talks

M&A Energy Electricity Renewable Wind Project & Infrastructure Finance Brazil US

Brazil's AES Tietê said it has ended negotiations to acquire the Alto Sertão III wind power project, due to non-compliance of the purchase agreement.AES Tietê agreed to buy Alto Sertão III from Renova Energia for BRL440m ($107m) in April this year, with BRL350m for the 438 MW first phase and BRL90m to develop the 305 MW second phase. It also said at the time that it would assume BRL988m in debt and spend BRL76m for Renova's 1,100 MW pipeline of wind power projects.In June, AES Tietê, a subsidiar

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