Patria Investments completed the acquisition of the Brazilian hydropower business of ContourGlobal for $313m.

Patria Investments, a private market investment firm, completed the acquisition of the Brazilian hydropower business of ContourGlobal, a growth platform for acquiring and developing wholesale power generation, for $313m. "We have been present in Brazil since 2007 and our first investments were two run-of-river hydro-electric plants, which we developed and built and are part of the Brazilian hydro-electric businesses acquired by Pátria Investments. For the past 15 years Brazil has been an important market for ContourGlobal and we are proud to be part of the early stages of the Brazilian renewables industry. During these years we also invested more than $3m in social projects and ESG initiatives," Alessandra Marinheiro, ContourGlobal Executive Vice-President.