Chinese groups interested in renewable energy assets in Brazil

24 July 2017

Investors from China may put forward proposals to buy Brazilian renewable energy company Renova Energia and energy production assets from Brazil’s Light, financial news agency Reuters reported recently.

Renova Energia and Light are controlled by state-owned Companhia Energética de Minas Gerais (Cemig), which recently announced a plan to sell assets to reduce its liabilities.

The agency cited a letter from CIRI International Technology Co. in which it claims to represent Chinese groups in the sector, including PowerChina, which are seeking to acquire renewable energy production assets in Brazil.

“The PowerChina group intends to expand its activity abroad and has the technical and financial support of CIRI to carry out this project,” the letter said.

This letter was sent shortly before Light, which has a stake in Renova, signed an agreement with Brookfield, Canada, to negotiate exclusively the presentation of a proposal to buy the latter company. (macauhub)