Iron ore miner Vale has won approval from Brazil’s antitrust regulator to buy three wind farms in the northeast of the country from investment fund Salus, according to an announcement in the official gazette on Tuesday, January 15.
In announcing its decision, the Administrative Council for Economic Defense (CADE) did not disclose the price of the acquisition.
“The operation is in line with Vale’s objective of meeting its demand for energy through generation from renewable sources such as wind,” CADE stated, citing information provided by the companies.
The move has comes as Vale aims to generate all of its energy needs from renewable sources.
Salus is controlled by the Mário Araripe Group, owner of wind farm developer Casa dos Ventos.
Full Content: Reuters
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