5 March 2014 – Braxenergy Desenvolvimento de Projetos de Energia of Brazil is planning to sell it renewable energy generation assets, totalling 5 GW, and shifting its focus to the electricity transmission segment.

Braxenergy chief executive officer Helcio Camarinha told local daily Jornal da Energia that 70 per cent of the assets due to be sold have the necessary environmental licenses, although their future output is not yet contracted.

According to Seenews, Braxenergy started by developing solar thermal projects but subsequently diversified its portfolio with hydropower, wind and solar photovoltaic projects.

As part of it latest strategy, Braxenergy established a subsidiary called Concessionaria de Sistema de Potencia.

The company took part in the government’s transmission projects auctions in November and December last year, winning four transmission lines lots – two in Ceara, one in Maranhao and another in Para state.

Camarinha confirmed to Seenews that the company will bid at the next transmission auction in July 2014, when the government will offer five lots of power lines.

For more Business news.

For more Renewables news.

For more Latin America news.