Vale (VALE3) clarifies where it stands with Aliança Energia; see – Money Times


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Vale informs that it has not yet decided on potential partners for Aliança Energia (Image: Reuters/Washington Alves)

A Vale (ELECTION 3) sent a statement to the market this Friday (27) clarifying that it continues to search for potential partners for the Energy Generation Alliance. However, at this time, there is no binding instrument or decision made regarding who the potential partner will be, or their capital structure.

The mining company's statement comes after news circulated in the media stating that the company would be moving forward with the operation.

In June, Vale confirmed the search for an investor for Aliança Energia, three months after acquiring the 45% that belonged to Cemig, for R$2.7 billion.

According to the mining company, the increased stake in the company is an important step towards the creation of an energy platform, which will potentially include other assets in its portfolio.

The Alliance is made up of seven hydroelectric plants located in Minas Gerais, two wind complexes in operation in Rio Grande do Norte and a wind complex in the final phase of implementation in Ceará. Together, the assets reach 1,438 MW in installed capacity and 755 average MW of physical guarantee.

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