BTG Fund Invests in ERSA

BTG Pactual’s Fundo Brasil Energia is investing BRL300m in ERSA, a Brazilian company dedicated to renewable energy. The capital infusion will allow ERSA to finance expansion. “Our objective is to generate more than 1,000MW within 5 to 7 years,” says ERSA chairman Otavio Castello Branco in a statement. ERSA operates 3 hydroelectric dams and has 8 more under construction, which are expected to become operational in 2010. Other ERSA investors are New York-based Eton Park (28%), Patria Investimentos (24%), GMR Empreendimentos Nergeticos (10%), Germany’s DEG (8%), and BBI FIP (7%). Fundo Brasil Energia holds 23%.