Brazil’s Banco Votorantim on fundraising trail for renewable energy private equity funds

Banco Votorantim, the financial unit of Latin American industrial group Votorantim Group, will look to raise $768m across three renewable energy-focused private equity funds.

According to a report in Bloomberg, the company will look to invest in Brazil’s renewable energy sector, committing capital to hydroelectric plants, the biomass and wind sectors.

A filing released by the group also said solar investments may also be of interest.

Brazil has long been a leader in the bioenergy market but is looking to diversify its portfolio and as such is holding yearly auctions for power contracts.

Alongside traditional fossil fuel power, the country is increasingly dependent on mega hydropower plants with the controversial Belo Monte dam now fully licensed and construction set to begin.

in June of this year, Brazilian investment bank and asset manager BTG Pactual raised $1.5bn for one of the largest funds in the history of Brazilian private equity.

Copyright © 2011 AltAssets

Comments are closed.