Cemig to Buy 50% of Brazil Wind Project for $50.8 Million

Cia. Energetica de Minas Gerais agreed to buy a 50 percent stake in a 676.2-megawatt wind project in Brazil’s northeastern state of Bahia.

Cemig, as the utility is known, will pay 113.5 million reais ($50.8 million) to Renova Energia SA (RNEW11) for its stake in the Zeus project, according to a statement yesterday.

Cemig climbed 3.7 percent to 18.86 reais at the close in Sao Paulo. The company’s press office didn’t immediately respond to requests for comment.

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 Will Wade, Jim Efstathiou Jr.

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