Brazil utility Furnas to sell wind farms

An auction for the complex's five wind farms will be held on August 8, with bids starting at $23 million for each asset

Jul 10th, 2014
Content Dam Elp Online Articles 2014 06 Brazil Wind Farm

Brazilian state-run utility Furnas has announced plans to sell a 49 percent stake in the Aracati wind power complex, according to Business News Americas.

An auction for the complex's five wind farms will be held on August 8, with bids starting at $23 million for each asset, Furnas said in a statement.

"The criterion for judging the best proposal will be the largest amount offered in cash," Furnas said.

The complex is located in Brazil's northeastern state of Ceará. Furnas did not reveal installed capacity of the wind farms.

São Paulo-based Alupar, which holds a controlling 51 percent stake in the complex, will have first bidding rights at the auction.

Interested firms have until August 4 to submit expressions of interest.

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