January 13, 2017 / 10:32 AM / 2 years ago

Brazil's Renova sells wind farm project to AES Brasil for $204 mln

SAO PAULO, Jan 13 (Reuters) - Renova Energia SA has agreed to sell a wind farm project to the local unit of AES Corp for about 650 million reais ($204 million) as part of efforts by the Brazilian renewable power company to repay debt and ease a cash crunch.

Renova has entered into a binding agreement to sell the Alto Sertão II project to AES Tietê Energia SA, a subsidiary of AES Brasil SA, it said in a Friday securities filing.

Reuters had reported this month that Renova was in advanced talks with AES Brasil over Alto Sertão II.

$1 = 3.1878 reais Reporting by Ana Mano and Guillermo Parra-Bernal; editing by Jason Neely

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