We consent to the reference to our firm under the caption “Experts” and to the use of our reports dated August 17, 2007 in the Registration Statement (Form F-4 No. 333-147235 ) and related Prospectus of Cosan Limited for the registration of class A common shares and class B series 2 common shares of its common stock.

Ernst & Young

Auditores Independentes S.S.

/s/ Luiz Carlos Nannini

Luiz Carlos Nannini

Accountant