Votorantim, CPPIB form JV to invest in power: Reuters
Canada Pension Plan Investment Board (CPPIB) and Brazil’s Votorantim Group’s energy unit Votorantim Energia have formed a joint venture that will buy two operational wind parks in northeastern Brazil, Reuters reported. The wind parks will have a combined generation capacity of 565 megawatts. CPPIB will be initially contributing $272 million (US$213 million) in equity. The joint venture sees an investment of more 3 billion reals (US$897.72 million) in Brazil’s power generation sector and will pursue further acquisitions. Reuters reported in October that Votorantim Energia was in talks with pension and sovereign wealth funds to create a wind, solar and small-scale hydropower electricity joint venture in Brazil.
15 December 2017•2 mins read
