ArcelorMittal Forms Brazil JV for $800 Million Wind Power Project
18 Abril 2023 - 3:51AM
Dow Jones News
By Cecilia Butini
ArcelorMittal is setting up a joint venture through its
brazilian arm to develop a wind power project worth $800 million,
the company said Tuesday.
The joint venture is between ArcelorMittal Brazil and Casa dos
Ventos, a renewable-energy player in the country, and is meant to
develop a 554-megawatt wind power project, the company said.
ArcelorMittal will hold 55% in the venture, while Casa dos Ventos
will hold the remaning 45%, with a total equity investment of $0.15
billion from ArcelorMittal, it said.
The transaction was already approved by Brazilian antitrust
authorities and will be completed in the next 15 days, according to
ArcelorMittal.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 18, 2023 02:36 ET (06:36 GMT)
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