Brazil's Eletrobras hires Credit Suisse to sell renewable projects

Eletrobras, a major Brazilian electric utilities company, has appointed Credit Suisse Group to help sell renewable energy projects.

The projects to be sold, which include wind farms and other assets, are owned by Eletrosul, a subsidiary of Eletrobras.

The company plans to raise approximately BLR2 billion (US$550.5 million) from the sale. According to sources, the firm would use funds from the transaction to invest in higher-yielding projects or for debt reduction.

Eletrosul operates in the states of Santa Catarina, Rio Grande do Sul, Mato Grosso, Mato Grosso do Sul, Paraná and Rondônia. Its transmission grid comprises 44 substations and over 11,000 km of transmission lines, while its generation assets include hydroelectric plants, wind power complexes, and one PV unit.