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Renova accepts Mubadala offer for hydropower plants

Renova accepts Mubadala offer for hydropower plants

July 22, 2021
Brazilian renewable energy company agrees to sell its 51% stake in Brasil PCH to the Abu Dhabi-based sovereign wealth fund for $212 mln

M&A Energy Hydro Brazil Middle East

Brazilian renewable energy company Renova Energia said it had accepted a binding offer to sell its stake in the hydroelectric power plant business Brasil PCH to Abu Dhabi-based sovereign wealth fund Mubadala for BRL1.1 billion ($212 million).  Mubadala has the right to match any other bids that Renova could receive for Brasil PCH, the São Paulo-based company said in a securities filing on Tuesday. Local business newspaper Valor Econômico reported last month that Mubadala had put forward an offer

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