The AES Corporation has agreed to sell its 47.3% equity interest in AES Brasil to Auren Energia for $640 million. This transaction is part of AES’ strategy to streamline its portfolio and strengthen its balance sheet. AES has been operating in Brazil for over 25 years, accumulating a portfolio of more than 3 GW of renewable energy assets. This move aligns with AES’ focus on supplying renewable energy to US corporate customers and growing utilities. Including this sale, AES has achieved over half of its $3.5 billion asset sale proceeds target through 2027. The sale involves AES Brasil’s 5.2 GW renewable energy portfolio, predominantly hydroelectric (51%), followed by wind (43%) and solar (6%). The transaction is expected to close in 4 to 6 months, pending customary approvals.
AES to divest Brazil assets to Auren
With over 25 years in Brazil, AES has amassed 3 GW of wind and solar assets. (Image Credit: AES Corporation)
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