BNDES Participações (BNDESPar), the investment arm of Brazilian development bank Banco Nacional de Desenvolvimento Economico e Social (BNDES), and private equity fund manager Mantiq Investimentos have approved a share subscription for BRL93.3 (approximately US$41.5 million) and BRL120 (approximately US$53.5 million), respectively, in Brazil-based designer, builder and operator of cogeneration power plants Energia Renováveis do Brasil (ERB). Mantiq’s transaction will be structured through Fundo Caixa Ambiental. ERB intends to use the financing to deliver four cogeneration power projects by early 2013 and three others by 2015. BNDESPar and Fundo Caixa Ambiental will share control of the power company with its two other shareholders: FI-FGTS and Rioforte Investments.