July 17, 2018 / 8:57 PM / 4 months ago

UPDATE 1-Brazil's Vale, Cemig venture considers Renova wind park purchase -sources

(Adds details, source comments)

By Luciano Costa

SAO PAULO, July 17 (Reuters) - A joint venture between Brazilian miner Vale SA and utility Companhia Energética de Minas Gerais is considering acquiring an unfinished wind park from Renova Energia SA, three people familiar with the matter told Reuters on Tuesday.

Joint venture Aliança Geração de Energia SA is evaluating Renova’s Alto Sertão III complex in the northeastern state of Bahia, which when complete will have capacity of roughly 400 megawatts, the sources said, declining to be named as the talks are confidential.

Renova Energia and Cemig did not immediately respond to request for comment. Aliança Geração declined to comment.

The complex has generated interest among half a dozen potential buyers, including Aliança Geração, one of the people said.

“There are various proposed buyers, not just Aliança. No one has been given exclusivity,” a second source said. The sources declined to name other potential buyers.

Renova, which is owned by Cemig and its subsidiary Light SA , had tentatively agreed to sell Alto Sertão III to a unit of Brookfield Asset Management Inc for 650 million reais ($169.13 million) but the deal was later called off. Renova had invested 390 million reais in the project before halting work at the end of 2016 due to lack of resources. ($1 = 3.8433 reais) (Reporting by Luciano Costa Writing by Jake Spring Editing by Susan Thomas and Lisa Shumaker)

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