Renova Energia selects Mubadala as winner for its sale of HPP unit

Mubadala Investment Company PJSC, a sovereign investment company of the United Arab Emirates, has been selected as the winner by the Brazilian renewables company Renova Energia SA for the sale of its small hydropower plant (HPP) units. 

Mubadala Consultoria Financeira e Gestora de Recursos Ltda, through SF 369 Participacoes Societarias SA, targets the entire interest of Brasil PCH SA for BRL1.1 billion (US$210.18 million). Brasil PCH owns 13 HPP projects. 

Renova Energia will use the proceeds of the transaction to complete the Phase A of its Alto Sertao III wind power complex. The company has filed for bankruptcy in 2019.