Electrobras plans 45% sale of coys in half year

Brazil’s state-owned power holding company Centrais Eletricas Brasileiras SA, Electrobras is said to be planning a 45% stake divestment in mostly its windfarm assets.

According to Reuters, who quoted Electrobras’ Chief Executive Officer Wilson Ferreira Jr., the planned divestment would take place in the second half of the year.

In a conference call with analysts monitored by Reuters, Ferreira said the board is expected to approve the divestitures later this month. The stakes went unsold in an auction last year.

He said Eletrobras will adopt a sales model similar to what state-controlled oil company Petroleo Brasileiro SA has been using.