Developments in Brazil Energy Sector

By Emile Phaneuf, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Iberdrola, Spain’s largest energy company and worldwide leader in wind production, has announced that it will acquire 99.68 percent of Elektro, a private utility company in Brazil, from Ashmore Energy International (AEI) for US$2.4 billion in cash pending the approval of the Brazilian Electricity Regulatory Agency (ANEEL).

An Iberdrola press release from January 20th stated that the acquisition fits the company’s international expansion strategy for markets with “high growth potential and regulatory stability.”

Iberdrola has been present . . .

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