The Financial Post reports in its Saturday edition that Brookfield Asset Management is looking to buy Renova Energia SA's controlling block as part of a sweetened bid to take over the debt-laden Brazilian renewable energy firm. A Reuters dispatch to the Post says that under terms of a bid originally submitted Monday, Brookfield would buy out the stake that Light SA has in Renova. The same offer was extended to stakeholder Cia Energetica de Minas Gerais SA (Cemig) and founding partner RR Participacoes SA. Brookfield, which has made a number of high-profile infrastructure and energy acquisitions in Brazil over the past year, would pay Renova's controlling block for their stakes and pump fresh capital into the company. Newfound interest in Renova underscores a view among foreign investors that the outlook for Brazil's renewable power industry remains resilient even as consumption suffers with the country's worst recession ever. For Cemig, exiting Renova allows Brazil's No. 3 power utility to accelerate efforts to refinance almost five billion reais of debt maturing this year. Board members at Cemig, which has a 44-per-cent voting stake in Renova, will formalize their support to the improved Brookfield bid Wednesday.