Brazil's Vale to acquire Alianca Geracao for renewable energy development
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Update time : 2024-04-08 16:59:56
Vale SA, the Brazilian metals and mining giant, has sealed a deal to secure full ownership of Alianca Geracao de Energia SA, a privately held company holding hydro and wind power assets in Brazil. The transaction is worth BRL 2.7 billion and involves acquiring the remaining 45% stake in Alianca Energia from Brazilian utility Cemig GT, thereby raising Vale's ownership to 100%.
The deal is pending approval from Cemig GT's shareholders and regulatory authorities. This move aligns with Cemig GT's divestment strategy. Vale, already a shareholder in Aliança Energia, has opted to exercise its preferential acquisition right.
This acquisition marks a significant step for Vale in establishing an energy platform, potentially integrating other energy assets from its portfolio. After the acquisition, Vale intends to seek partners to bolster the platform, reaffirming its commitment to decarbonization through competitive renewable sources.
