June 4, 2019 / 3:10 PM / a year ago

Brazil regulator blocks sale of wind complex by Renova to AES Tietê

SAO PAULO, June 4 (Reuters) - Brazil's power sector regulator ANEEL rejected on Tuesday the proposed transfer of wind power complex Alto Sertao III from Renova Energia SA to AES Tietê, a 1.34-billion real ($346.73 million) deal closed in April.

In a meeting of its board on Tuesday, ANEEL directors said the companies failed to show possible gains for the consumer or guarantees for the conclusion of the project. Renova and AES Tietê were also seeking from ANEEL suspension of some fines related to delays in the complex' conclusion. Renova shares fell 25 percent in Sao Paulo after the news.

$1 = 3.8647 reais Reporting by Luciano Costa

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