Brazil’s Furnas to Sell Stake in Wind Project for $23 Million

Jul 10, 2014 11:02 pm ET

July 10 (Bloomberg) -- Furnas Centrais Eletricas SA, a generator and distributor of electric power, will sell its 49 percent stake in a wind project in the northeast of Brazil for a minimum of R$50.4 million ($23 million).

An invitation seeking bids for the complex, which Furnas Centrais won in an auction in 2011, was published today, the state-run company said on its website.

The Aracati wind complex, located in the state of Ceara, is comprised of five wind parks. Alupar Investimento SA holds a 51 percent stake in the venture.

The sale is scheduled for Aug. 8. Alupar has a preferred right to acquire the Furnas stake.