EDP buys 44 MWp of solar DG plants in Brazil

Portuguese utility EDP - Energias de Portugal SA (ELI:EDP) announced on Wednesday it has bought 44.3 MWp of solar distributed generation (DG) parks in Brazil.

The deal, valued at BRL 218 million (USD 37.5m/EUR 35m), was inked with Brazilian solar company Grupo Tangipar, and includes 16 assets spread across the states of Bahia, Mato Grosso, Mato Grosso do Sul and Parana.

Specifically, five solar parks are already in operation while the remaining 11 are currently under construction and scheduled for completion in 2025. The solar plants will serve low-voltage customers.

With this deal, the company is a step closer to achieving its goal of having around 500 MWp of installed capacity by 2026. Currently, EDP has 258 MWp in total.

EDP noted that the closure of the transaction is subject to the approval of local antitrust regulator CADE.

(BRL 1.0 = USD 0.172/EUR 0.161)

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