Albioma to Buy Brazil Sugar-Cane Waste Power Plants, Valor Says

Albioma (ABIO), the French biomass-energy producer, plans to spend 1.2 billion reais ($521.2 million) buying and upgrading sugar-cane power plants in Brazil, Valor Economico SA reported, citing Frederic Moyne, president of the company’s local unit.

Albioma plans to operate 600 megawatts of plants that run on cane waste and may also develop solar farms, the Sao Paulo-based newspaper said today in a report. The funds will be spent over a decade and account for 40 percent of the company’s global investments.

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

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