EDP, a renewable energy power producer, announced the acquisition of 16 solar projects from Tangipar Group, a solar energy company in Brazil. The projects in Bahia, Mato Grosso, Mato Grosso do Sul, and Paraná, have a total capacity of 44.3 MW.
Five out of the 16 projects have already been completed, with the remaining ones expected to be operational by 2025. The planned operational capacities include 10.9 MW in Bahia, 12.5 MW in Mato Grosso, 12.9 MW in Mato Grosso do Sul, and 7.7 MW in Paraná.
The transaction is subject to the approval of the Brazilian Council for Economic Defense. Once completed, the 16 projects will be added to EDP’s Brazil portfolio, with an installed capacity of over 250 MWp. The projects will supply clean electricity to low-voltage companies through the local shared energy production model.
“Decentralized solar production represents a huge opportunity to accelerate the energy transition together with our customers. In other words, more than expanding our operations and capacity in renewable sources to become 100% green by 2030, we want to contribute to the decarbonization of the economy, making solar energy more accessible to different types of consumers,” says Carlos Andrade, vice president of EDP Brazil.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
In October, Enerside, a Spain-based vertically integrated solar company, announced the sale of two Brazilian distributed-generation solar projects totaling 5 MW (6.6 MWp) to IVI ENERGIA, a Brazilian energy company owned by investment fund Brookfield Renovables. The sale comprises phase 1 of the project, which is already in operation, and an extension of phase 2, which is set to begin construction.
