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to-the-point: Engie Brasil to buy out solar DG yieldco

Rooftop solar panels. Photo by: EBRD (www.ebrd.com).

July 6 (Renewables Now) - Engie Brasil Energia SA (BVMF:EGIE3) announced on Wednesday it has signed a binding agreement to acquire all the shares it did not yet held in a distributed generation (DG) solar business.

With the full acquisition of Engie Geracao Solar Distribuida SA, Engie Brasil seeks to reaffirm its commitment to the segment, contributing to a more dynamic energy mix, Engie stated in its press release.

This transaction is not pending stockholder clearance but is still subject to approval by the country's Administrative Council for Economic Defense (CADE), Engie explained, noting that it is not a significant investment for the company.

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Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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