Enel Latin America and the Brazilian company Rede Empresas de Energia Eléctrica (REDE) have signed an agreement in São Paulo for the sale of the entire share capital of 11 companies in the Rede Group that hold concessions for 22 small hydro plants with a total installed capacity of 97.68MW.
The deal was signed with REDE and its subsidiaries, Rede Power do Brasil SA and Tocantins Energia, as vendors. The cost of the transaction totals 450M Raeis (approximately US$195M).
The closing of the transaction is subject to a number of conditions, including the approval of the ANEEL (the Brazilian electricity authority).