BNDESPar Plans Renova Investment

Brazil’s Renova Energia is negotiating with BNDESPar for an investment of as much as BRL315m ($154m) in the renewable developer, Renova says. The equity arm of Brazilian development bank BNDES would buy new shares at BRL28 each. The shares closed at 31.99 Monday. After shareholder approvals, Renova’s management board would evaluate an additional capital raise. Renova got a BRL297m loan from BNDES in October to support the construction of 5 wind farms in the state of Bahia.