CPFL Renewables Ponders IPO

CPFL is studying the possibility of an IPO for its CPFL Energias Renovaveis business, according to a person following the matter. There is not yet an indication of the size, timing or which banks might be involved. The company is said to seek funds for what it sees as a new phase of growth ahead in Brazil’s renewable energy sector. CPFL has 309MW in hydroelectric, wind and biomass generation in operation, plus another 1,518MW in development. Last month CPFL agreed to pay BRL1.062bn ($669.8m) for Bons Ventos, a company that owns 4 operating wind farms.