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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

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    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

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    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

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    An Ode to the 5 Arab Women Reigning the Business World

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    Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Al Salam Bank Q1 net profit rises a strong 7% to USD17.3 million

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

    Saudi banks big on new digital future; fintech transactions to outdo the USD 33 billion thresholds by 2023

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    OPay obtains approval of Egypt’s CBE to issue prepaid cards

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Reserve Bank of Australia left its cash rate at the most significant low of 0.1% on Tuesday

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

    Cross River Bank gets USD3 Billion+ valuation and a crypto-first strategy

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    Digital voice-based banking to become the new reality in 2022?

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Led by Apax Digital, ClearBank raises £175m to accelerate global expansion

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

    Al Salam acquires Ithmaar Bank for USD2.2 Billion to power Consumer Banking division

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    An Ode to the 5 Arab Women Reigning the Business World

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    Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

    Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

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    Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

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    New AI startup by Co-founders of DeepMind and LinkedIn raises USD 225 million

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    In new move in 2022, IMF raises weighting of dollar, yuan in Special Drawing Rights basket

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Vodafone shares up after USD 4.4 billion UAE stake buy

    Ather Energy raises USD128 million in series-E funding

    Ather Energy raises USD128 million in series-E funding

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    Malaysia may cut palm oil export tax by 50 percent amid global supply crisis

    UK’s Morrisons to buy McColl’s ahead of Asda owners

    UK’s Morrisons wins race to buy McColl’s ahead of Asda owners

  • Markets
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    • Ultility
    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Egypt to receive USD41.5 billion of investment in hydrogen projects through 2030

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

    Panama to develop largest advanced biorefinery to make lower-carbon aviation fuel by 2026

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    Brazil mills cancel new sugar export contracts, shift output to ethanol

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    World’s No.2 producer of wheat, India, bans wheat exports in new move

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Mubadala acquires 51% stake for $211 Mn in Brazil’s Renova

Brazil is accelerating in Hydro-power plants with 62.17% of total installed capacity by 2020 and new energy tenders to serve consumption

Archana Karumanchi by Archana Karumanchi
July 23, 2021
in Commercial, Mergers & Acquisitions, Top Stories, Ultility, Wealth & Asset Management
Reading Time: 2 mins read
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Mubadala acquires 51% stake for $211 Mn in Brazil's Renova

Mubadala acquires 51% stake for $211 Mn in Brazil's Renova

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Mubadala Investment Company is a sovereign investor managing a wide variety of portfolios of investments and assets. The company primarily focuses on innovative solutions for financial sustainability for clients. The company is valued at $243 billion, has a footprint on six continents in multiple sectors. Lately, the company got preferential rights in the Renova Energia SA. As per a report the offer was for 1.1 billion reais ($211 million) for a 51% stake in the Brasil PCH SA unit of Renova that owns 13 small hydroelectric plants.

The Brazilian company Renova Energia SA recently got an investment from Prisma Capital Ltda involving a sales transaction of the 408-MW Phase B of its Alto Sertao III wind power project. 

To serve the nation’s demand for power supply, the Brazilian government has come up with the first power capacity auction by the end of this year. The market intends to overcome the difficulties that arise from the integrated power sources like wind and solar. The Brazilian consumers will endure the payments through a new fee added to residential and business power bills in the new market similar to the other projects like reserve power tenders to renew wind power and small hydropower plants.

Brazil is accelerating in Hydropower plants with 62.17% of total installed capacity by 2020. The total installed electric generating capacity was 174,413 MW, of which 58.6% was hydropower, 9.64% wind, 25.2% thermal, 1.87% PV, 3.1% small hydro, 0.47% mini-hydro, and 1.13% nuclear. 

The Brazilian government plans to have four new energy power generation tenders exclusively for Greenfield projects in the A-3 and A-4 held in June and the A-5 and A-6 in September.

The country is known for its enormous renewable energy sources that accounted for 70% in 2018. The demand for hydroelectric plants is on the southeast coast. With the expansion of innovative and green energy, the country can boost its economy by encouraging private investments in renewable energy projects.

The country aims to regain its economic footing with a combination of new laws and reforms, along with high-yield investments that could create roughly one million jobs. As per a report by Irena, the International Renewable Energy Agency, Brazil has plenty of employment opportunities in hydroelectric, biofuels, and wind and solar energy next to China in job creation. Additionally, it benefits the investors with power purchase agreements (PPAs) for renewable energy ranging from 10- or 15-year tenure.

Tags: braziliangovernmentfinanicialstabilityhydropwermubadalaprismacapitalpurchaseagreementsrenewableenergyrenovaenergia
Archana Karumanchi

Archana Karumanchi

Archana Das Karumanchi is our content writer with a Master's degree in English Literature. She is not only well versed in the English language but also has a degree in Economics. Her key strength is the ability to write articulately about economic issues and trends keeping the target audience in mind.

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Pakistan's 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

Pakistan’s 1st fintech M&A deal: ZoodPay acquires Tez Financial Services

May 24, 2022
Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

Abu Dhabi-based Borouge sets offer price for IPO at USD0.66 per share at a valuation of USD20 billion

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Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

Egypt’s Communication Ministry launches new Ashbal Misr Digital Initiative for 2022

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