2018.06.2013:37:00UTC+00AES BRASIL: Company Plans To Acquire Renewable Energy Projects

After selling its stake in the power company Eletropaulo for R$ 5.5 billion for Italia's Enel, AES Brasil plans to use part of the money to buy renewable energy projects, especially solar and wind farms, said the company's president, Julian Nebreda.

"Our growth plan is to buy assets in operation or that are close to being operational," he said during an event held by AES Tiete in Sao Paulo.

Without pinning any asset as a target, the executive commented that ventures close to other businesses already held by the company may make sense for an acquisition. Among them, could enter the Alto Sertio III complex, which is close to a project acquired by AES last year.

Another asset that could fit the profile that the company analyzes is Renova Energia, currently held by Companhia Energ?tica de Minas Gerais (Cemig) and Light.

In addition to increasing EBITDA (earnings before interest, taxes, depreciation, and amortization) until 2020, AES Brasil expects in the long term to implement some projects in the thermoelectric area, specifically from 2025 onwards.