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 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.

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