The transaction involves AES Inova, an investment platform for distributed generation that uses smaller technology systems, such as solar panels on land or roofs.
SAO PAULO: Brazilian power company EDP Energias do Brasil SA said on Thursday that its EDP Smart division has signed a deal to acquire solar energy assets from the local unit of AES Inc for 177 million reais ($32 million).
The transaction involves AES Inova, an investment platform for distributed generation that uses smaller technology systems, such as solar panels on land or roofs.
EDP Brasil, a subsidiary of Portugal’s largest utility, EDP, said in a statement the deal would expand by 50% the size of its portfolio of solar energy projects, a priority of its investment plan.
EDP Brasil’s new president, Joao Marques da Cruz, who took office this month, said in an earnings conference call this week that the company would make additional acquisitions in solar generation and transmission. ($1 = 5.5308 reais)
Source: reuters
