July 23 (Renewables Now) - Brazil's Administrative Council for Economic Defense (CADE) has approved without restrictions Engie Brasil Energia SA's (BVMF:EGIE3) planned buyout of a local distributed generation (DG) solar business.
The transaction involves the acquisition by Engie Brasil of the 50% stake it does not already own in Engie Geracao Solar Distribuida SA from local firms RPF and Dual G. Following the purchase, Engie Brasil will hold 100% of the shares of Engie Solar.
CADE has determined that this transaction does not constitute a reinforcement in horizontal overlap or vertical integration.
Engie Solar specializes in PV energy solutions for residential, commercial and industrial use. It develops, installs, operates and maintains solar systems with an output of less than 5 MW.