Brazil’s Omega signs MoU for potential solar power investment
Solar PV plant in Brazil
Brazilian energy firm Omega Energia SA (BVMF:MEGA3) has signed a memorandum of understanding (MoU) with local companies Apolo Renovaveis Participacoes Ltda and Apolo Administracao de Recursos Ltda for potential investments in solar photovoltaic (PV) energy.
Under the terms of the agreement, Omega and Apolo Administracao, also known as Apolo Asset, will invest in a new holding company focused on developing solar power plants.
Specifically, the duo will each, either by themselves or using an investment fund, subscribe and pay amounts in the range of BRL 100 million to BRL 250 million (USD 46m/EUR 45m) in shares issued by the new holding company.
The completion of the deal is subject to certain conditions and the execution of the definitive documents.
Omega Energia has a portfolio of solar, wind and hydropower plants with an installed capacity of 1,869 MW, according to its website.