Brazil’s Furnas to Sell Stake in Wind Project for $23 Million

Furnas Centrais Eletricas SA, a generator and distributor of electric power, will sell its 49 percent stake in a wind project in the northeast of Brazil for a minimum of R$50.4 million ($23 million).

An invitation seeking bids for the complex, which Furnas Centrais won in an auction in 2011, was published today, the state-run company said on its website.

The Aracati wind complex, located in the state of Ceara, is comprised of five wind parks. Alupar Investimento SA holds a 51 percent stake in the venture.

The sale is scheduled for Aug. 8. Alupar has a preferred right to acquire the Furnas stake.

To contact the reporter on this story: Vanessa Dezem in Sao Paulo at vdezem@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Iain Wilson, Indranil Ghosh

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.