Vale gets permission to buy electricity plants to supply its energy needs

Wednesday, 16 January 2019 00:33:15 (GMT+3)   |   Sao Paulo
       

Brazilian miner and iron ore producer Vale received approval from local anti-trust authority, Cade, to buy three wind energy plants in the country’s northeast region, SteelOrbis has learned.

Neither Vale nor Cade disclosed how much the miner will pay to buy the plants—São Bento, São Galvão and Santo Eloy—from investment fund Salus. Salus is owned by the Mario Araripe group, which owns other wind plants.

The acquisition will help Vale to generate all of its energy needs from renewable sources. Additionally, Vale signed a long-term electricity supply deal with Casa dos Ventos, which is expected to generate wind electricity from its Folha Larga Sul complex in Bahia state, effectively in the first half of 2020.

Under the terms of the agreement, Vale will have in the future the option of buying the complex. Casa dos Ventos is also owned by the Mario Araripe group.


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