Aug 2 (Reuters) - Brazil's audit court TCU on Wednesday gave the green light for state-run electric utility Copel to proceed with a share offering that will take the firm private.

As part of the privatization, the court also ruled that Copec pay the government 3.72 billion reais ($775 million) to renew its concessions for three hydroelectric plants. ($1 = 4.7993 reais) (Reporting by Leticia Fucuchima; Editing by Sarah Morland)