AES Corporation (AES)

[eFinanceMarkets]

AES finalizes Brazilian wind farm purchase for $193M

AES Corp.'s (AES -0.4%) Brazilian unit agrees to acquire the Alto Sertao II wind farm project from Renova Energia for 600M reais ($193M).

The deal's value could increase by 100M reais within five years, depending on whether the project outperforms some unspecified operational metrics.

The sale reportedly is a condition for Brookfield Asset Management's (BAM -0.1%) plan to enter Renova's controlling bloc in a deal valued at ~1B reais.