Vale started to have 100% of the Energy Alliance capital last year, after having acquired 45% that were in the hands of Cemig for R $ 2.7 billion
Vale (Vale3) announced on Monday that it agreed with Global Infrastructure Partners (GIP) an agreement to form a joint venture in the Energy Alliance, where it will receive $ 1 billion in cash and will have a 30% stake in the venture.
The mining company stated in a relevant fact that the GIP will have the rest of the joint venture and that with the transaction will ensure “strategic volume of power generation to maintain the electric matrix, which is 100% based on renewable sources in Brazil”.
Vale also stated that the business “guarantees competitive energy costs, with prices defined in US dollars without inflation adjustment.”
In mid -February Reuters published, citing sources, that the mining company had advanced in negotiations to sell a majority slice in the Energy Alliance and a solar complex.
Vale started to have 100% of the Energy Alliance capital last year, after having acquired 45% that were in the hands of Cemig for R $ 2.7 billion.
