EDP Energias do Brasil SA, owned by Portugal’s EDP group, has signed a deal to acquire a stake of up to 40% in the Brazilian solar energy firm Blue Sol Participacoes.
The agreement will provide the Brazilian unit of Portuguese utility EDP with the opportunity to gain control over Blue Sol after a period of three years and a half from the completion of the initial transaction, which is expected in the first quarter of 2021, EDP announced.
EDP – Energias de Portugal has China Three Gorges as its main shareholder,
Blue Sol Participacoes SA is the holding company for Blue Sol Energia Solar LTDA, Blue Sol Franquia LTDA and Blue Sol Educacional LTDA.
The firm is active in the business-to-consumer solar generation field and has a chain of 34 franchises across 16 states, with revenues worth around USD 12.5 million last year.
The company has built a 50-MWp portfolio between 2015-2020.
The planned acquisition will give EDP access to both Blue Sol’s franchise chain and its technical experience.