EDP Ventures, a unit of Portuguese utility EDP, has revealed plans to acquire a minority stake of up to 40% in Blue Sol Participações, a Brazilian distributed-generation PV specialist.
Under the terms of the deal, EDP Ventures will also retain an option to acquire full control of Blue Sol within three and a half years of the finalization of the transaction, according to a statement by the Portuguese energy group. The completion of the deal is still subject to a number of undisclosed conditions, but it will likely be wrapped up in the first quarter. The two companies did not disclose the financial terms of the planned transaction.
Blue Sol has 12 years of experience in the distributed-generation solar market, with a specific focus on the business-to-consumer (B2C) segment. It offers services ranging from project design to installation. This year, it generated BRL 65 million ($12.5 million) from the sale of more than 17.5 MWp of solar capacity. It claims it accumulated about 50 MWp of installed PV capacity in the 2015-20 period.
Brazil is one of EDP’s biggest markets, after Portugal, Spain and North America. It owns 1.9 GW of installed renewables capacity in Brazil, although the bulk of that comes from hydropower plants.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.