September 9, 2020 |
Brazilian renewable energy company Renova said Tuesday that it has accepted a debtor-in-possession (DIP) financing offer from Quadra Gestão de Recursos worth up to BRL350 million ($65.3 million), pending approval from a local bankruptcy court.
Renova did not disclose the terms of the financing, but it said it would use the money to finish building the first phase of the Alto Sertão III wind power project in Bahia.
Renova received two DIP financing offers in late August: one from Quadra and the o
Brazilian renewable energy company agrees to borrow $65 mln from Quadra for the Alto Sertão III wind project