Brazil’s Renova Energia to Sell $183 Million of Promissory Notes

Renova Energia SA (RNEW11), the Brazilian wind-farm developer, may sell as much as 400 million reais ($183 million) of promissory notes to finance new power plants.

The notes will pay the Brazil interbank lending rate known as CDI plus 0.98 percent and will mature after 180 days, Sao Paulo-based Renova Energia said in a regulatory filing yesterday.

The company received contracts to sell energy from the planned wind farms in two auctions in 2010 and 2011, according to the filing.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.