Brazilian miner Vale has officially concluded the creation of a joint venture with US-based investment firm Global Infrastructure Partners (GIP) in Brazil-based electricity supplier Aliança Geração de Energia, according to local media reports. The move marks a key milestone in securing a stable supply of renewable energy for its operations in Brazil, while strengthening its long-term sustainability strategy.
Vale has received approximately $1 billion in cash and holds a 30 percent stake in the joint venture, while GIP will hold the remaining 70 percent.
Aliança Energia now fully consolidates the energy assets held by the Sol do Cerrado solar plant and the entirety of the Candonga Consortium, both in Minas Gerais, in addition to six other hydropower plants in the same state and three wind farms in Rio Grande do Norte and Ceará. The completion of this transaction ensures Vale’s energy supply at competitive costs and supports its commitment to a renewable energy matrix in Brazil.
