December 15, 2017 / 7:41 AM / 3 months ago

Votorantim Energia, Canada pension board form joint venture

Dec 15 (Reuters) - Canada Pension Plan Investment Board (CPPIB) and Votorantim Group’s energy unit Votorantim Energia have formed a joint venture that will buy two operational wind parks in northeastern Brazil, a joint statement said.

Canada’s biggest public pension plan will be initially contributing C$272 million ($213 million) in equity, according to the statement.

The joint venture sees an investment of more 3 billion reals ($897.72 million) in Brazil’s power generation sector.

Reuters reported in October Votorantim SA’s energy unit was in talks with global pension and sovereign wealth funds to create an integrated wind, solar and small-scale hydropower electricity joint venture in Brazil. ($1 = 1.2771 Canadian dollars) ($1 = 3.3418 reals) (Reporting by Kanishka Singh in Bengaluru; Editing by Gopakumar Warrier)

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