Chinese investors in market for Brazilian renewable energy assets

Investors from China may bid for the assets of renewable energy company Renova Energia SA and power generation assets owned by Light SA, Reuters reports.

Renova and Light are owned by Companhia Energética de Minas Gerais (Cemig), a government body, that recently announced a divestment plan to reduce its debt – a plan that may include the sale of both companies.

Chinese investors may also be willing to inject capital into both companies to continue ongoing projects, according to advisory firm CIRI International Technology Co.

CIRI said it was representing companies, including PowerChina, that want to buy renewable energy power generating assets in Brazil.

Light distributes electricity in Rio de Janeiro and controls about 900 megawatts of power generating capacity. Renova is an investor in wind farms.