E.ON has committed a further $275m to the Brazilian energy company as its stake approaches 50%, and has now invested about $1.8bn in Eneva.
Germany-based utility E.ON is set to invest €200m ($275m) in Brazil-based energy company Eneva, increasing its 38% share in the company to a larger minority stake, Reuters has reported.
E.ON paid an initial $366m for a 10% stake in Eneva, then called MPX Energia, in January 2012. It increased its share to 37.9% as MPX chairman Eike Batista encountered financial difficulties and was forced to cut his share to 24%.
Eneva has about 2.4 GW of power generation capacity in…
