EDP signs agreement for the acquisition of AES Inova
Investment of R$ 177 million adds 34 MWp to the Company’s distributed solar generation portfolio
EDP, a company that operates in the entire chain of the electricity industry, signed, through EDP Smart, a division that brings together its portfolio of Energy Solutions, an agreement for the purchase of AES Inova, investment platform for distributed generation of AES Brazil . The total estimated investment is R$ 177 million, considering the acquisition value of R$ 101.7 million and CapEx for the development of the projects. With the operation, EDP expands the size of its project portfolio by 50% and advances its growth strategy in the solar energy segment.
This deal adds almost 34 MWp to EDP Smart's portfolio through assets located in Rio Grande do Sul, São Paulo and Minas Gerais. Of this total, approximately 16 MWp refer to projects contracted and in commercial operation. The remaining 18 MWp refer to ready to build projects in Minas Gerais, which will allow EDP to carry out the works, hire in a strategic market and take advantage of operational synergies with other assets in the region.
“This operation represents for EDP an excellent combination between contracted projects - which means guarantee of revenue and risk mitigation - and projects under construction - in which we stand out for the excellence of the delivery within the predefined deadline and cost”, says João Marques da Cruz , CEO of EDP in Brazil. “This is another steep step by EDP towards its goal of leading the energy transition in the country, investing heavily in distributed and centralized solar generation (utility scale)”, he adds.
EDP ended 2020 with 65.3 MWp of solar energy in its portfolio - 34.5 MWp in projects already handed over to clients such as Banco do Brasil, TIM, Claro, and Johnson & Johnson, in addition to 30.8 MWp in projects already under development and construction. In December, the Company signed an investment agreement in Blue Sol Participações SA, with the objective of acquiring an interest of up to 40% in the company and increasing its capillarity in the B2C solar energy segment.
About EDP in Brazil
With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has over 10 thousand direct and outsourced employees, has six hydroelectric and one thermoelectric power plants, in addition to operating in Transmission, Marketing and Energy Services. In the Distribution, it serves approximately 3.5 million customers in São Paulo and Espírito Santo, in addition to being the main shareholder of Celesc, in Santa Catarina. In 2020, the company was elected as the most innovative in the electricity sector by the Valor Inovação ranking, of the Valor Econômico newspaper, and is a reference in Governance and Sustainability, having been on the B3 Corporate Sustainability Index (ISE) for 15 consecutive years.