Vale announces acquisition of stake in Aliança Energia
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Vale announces acquisition of stake in Aliança Energia
Vale informs that it has entered into an agreement to acquire the entire 45%-stake held by Cemig Geração e Transmissão S.A. in Aliança Geração de Energia S.A., a privately held company. The transaction is subject to the approval by Cemig GT’s Shareholders’ Meeting and customary precedent conditions, including the approval by competent authorities. Upon closing Vale will hold 100% of Aliança Energia’s capital.
The decision was taken in the context of Cemig GT's divestment plan, made public in 2020. As a shareholder in that enterprise and considering that Vale currently uses most of the energy generated by Aliança Energia, the Company chose to exercise its preferential right of acquisition.
Aliança Energia's generation volume is strategic in maintaining Vale's energy matrix based on renewable sources in Brazil. Aliança Energia's power generation asset portfolio consists of seven hydroelectric plants in the state of Minas Gerais and three wind farms in the states of Rio Grande do Norte and Ceará. Together, these assets reach 1,438 MW in installed capacity and an average physical guarantee of 755 MW.
Vale will pay R$ 2.7 billion for the acquisition. The acquisition of the stake in Aliança Energia is an important step towards creating an energy platform, potentially including other energy assets from Vale's portfolio. Upon conclusion of this transaction, Vale will search for potential partners to this platform, keeping its commitment to decarbonize its operations using renewable sources at competitive costs.
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