Renova Energia has sold the 386.4MW Alto Sertao wind project in Brazil to AES for $193m (Brl600m) to trim its debt burden.
AES also agreed to potentially pay an additional Brl100m for the asset, conditional on it meeting performance hurdles over the next five years.
“The company’s management notes that the transaction is in line with its new objective of rebalancing its capital structure and the sustainability of the business in the long run,” Renova said.
Image: the Alto Sertao wind farm (Renova)
