Engie wins Brazil regulator's nod to take over 605 MW wind farm 
French utility Engie has been given the green light to assume rights over the 605 MW Umburanas wind complex in Brazil. The transfer follows a BRL15m ($4.6m) deal in August to buy Renova Energia's stakes in the project companies. Energy regulator Aneel approved the move, but also slapped Renova with a BRL3.8m fine and year-long ban from participating in energy auctions over the company's failure to start works on the mills as a result of financial limitations. The ban could be lifted if Renova is taken over. Its parent company Cemig is trying to sell it to Canada's Brookfield.
Brazil's power sector regulator Aneel has approved on Tuesday the transfer of the project rights for the 605-MW Umburanas wind complex to France’s Engie SA (EPA:ENGI).

However, as the negotiation involved the request for cancellation of four permits already given to this complex, the watchdog applied a fine of BRL 3.8 million (USD 1.1m/EUR 995,179) Renova Energia SA (BVMF:RNEW11) .

In addition, Aneel has also suspended for a whole year Renova's right to take part in future energy auctions. The company's shareholders Cemig (BVMF:CMIG4) and Light SA (BVMF:LIGT3) are not affected by the decision, Aneel noted.

On August 23, Renova signed a contract with Engie to sell its stakes in the project companies for the Umbuaramas complex for BRL 15 million.

(BRL 1 = USD 0.308/EUR 0.262)

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