Comerc to acquire 28.5-MWp of solar DG power in Brazil

Brazilian power trading company Comerc Participacoes SA (B3:COMR3) announced on Monday that it has signed an agreement to acquire 28.5 MWp of solar distributed generation (DG) plants in the state of Minas Gerais.

It said it had made the BRL-200-million (USD 41.3m/EUR 38.7m) deal through subsidiary Ares 2 Participacoes SA with selling parties Brazilian investment bank Banco BTG Pactual SA (BMVF:BPAC11) and US-based renewables developer Energea Global LLC.

Under the agreement, Comerc is set to acquire all shares of a special purpose entity that will own the capital of four vehicles that hold the solar DG capacity.

The power plants covered by the agreement are in final stages of construction, Comerc said.

The transaction requires approval by Brazilian antitrust regulator CADE.

(BRL 1.0 = USD 0.206/EUR 0.194)

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