August 23, 2017 / 2:22 PM / a year ago

Brazil's Renobrax picks CELA as adviser for sale of power projects

SAO PAULO (Reuters) - Renobrax Energias Renováveis Ltda, a renewable energy developer in Brazil, has hired Clean Energy Latin America (CELA) as its exclusive adviser for the sale of two power projects, the companies said late on Tuesday.

Renobrax is developing a solar project in the northern Piaui state, with a capacity to generate 288 megawatts, and a wind farm project in the southern state of Rio Grande do Sul, which is designed to produce 220 megawatts.

The companies said plans call for submitting the projects for participation in auctions the government will hold in December to award operating licenses and long-term electrical supply contracts for solar and wind power generators.

These auctions would be the first for Brazilian wind and solar projects since 2015.

Last year the government did not grant licenses for the building of new projects to generate electricity due to the oversupply of power amid a severe recession.

Reporting by Marcelo Teixeira; Editing by W Simon

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