On Wednesday, Gustavo Ribeiro, the CEO of Brazil’s Ibitu Energia, part of asset manager Castlelake LP, said that it would invest about BRL4.5 billion (USD839.43 million) in renewable energy assets in the next five years.
Previously in 2019, Brazil’s engineering group Queiroz Galvao has agreed to acquire Ibitu’s existing assets.
According to the CEO, the company aims to double its Brazilian power generations’ capacity by buying or establishing new power plants. Other than that, Ibitu is considering new solar and wind projects totaling 1.2 GW.
