https://www.miningweekly.com
Energy|Renewable Energy|Renewable-Energy
Energy|Renewable Energy|Renewable-Energy
energy|renewable-energy|renewable-energy-company

Vale acquires remaining stake in Aliança Energia, plans energy expansion

28th March 2024

By: Creamer Media Reporter

     

Font size: - +

Brazilian miner Vale announced on Wednesday that it has finalised an agreement to buy a 45% share in Aliança Energia from Cemig GT, a subsidiary of energy company Cemig. 

The R$2.7-billion acquisition will secure full ownership of Aliança Energia, which is a significant player in the renewable energy sector, boasting seven hydroelectric plants in Minas Gerais and three wind farms in Rio Grande do Norte and Ceara. Together, these assets reach 1 438 MW in installed capacity and an average physical guarantee of 755 MW. 

In a statement, Vale emphasised the strategic importance of the acquisition, stating that it marked a key step in establishing an expansive energy platform. 

The company hinted at potential future expansions, expressing intentions to incorporate additional energy assets from its own portfolio. Moreover, Vale disclosed plans to explore partnership opportunities for the energy platform. 

The transaction is subject to the approval by Cemig GT’s shareholders’ meeting and customary conditions.

The decision was taken in the context of Cemig GT’s divestment plan, announced in 2020. As a shareholder in that enterprise and considering that Vale currently uses most of the energy generated by Aliança Energia, the company chose to exercise its preferential right of acquisition.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.114 0.148s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: