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.
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