ENGIE has firmed an agreement with Atlas Renewable Energy for the acquisition of all of the company's operational solar assets in Brazil. The transfer, valued at R$3.24bn (US$641m), will add 545MWac to ENGIE's portfolio.
The operation includes solar plants installed throughout Brazil. They are: Juazeiro (120MW), São Pedro (54MW) and Sertão Solar (90MW) in Bahia, Sol do Futuro (81MW) in Ceará and Lar do Sol (200MW) in Minas Gerais.
The completion of the transaction is still open to compliance with conditions previously set by the parties, as well as approval by the Administrative Council for Economic Defence (CADE).
For more information on renewables projects in Brazil, please visit EICDataStream.