Cemig to buy 16 MWp of DG solar farms in Brazil

• Brazilian energy options firm Cemig SIM has actually signed an arrangement to obtain 16.2 MWp of solar farms that will operate on a distributed generation (DG) basis in the state of Minas Gerais.

The transaction will certainly see Cemig SIM obtain a 100% stake in unique function vehicles that possess the solar farms. The selling celebrations are Brazilian firm Genesys Participacao Societaria Ltda as well as entrepreneur Antonio Carlos Torres.

Cemig SIM will certainly pay around BRL 100 million (USD 19m/EUR 18.1 m) for 3 solar plants and also pay out the cash as they come online, the buyer's moms and dad, Brazilian utility Cia Energetica de Minas Gerais SA - Cemig (BVMF: CMIG4), said on Wednesday.

The profile includes the Prudente Morais solar farm, which is expected to start operations in July, Montes Claros will certainly adhere to in September, and Jequitiba, readied to go online in February 2023.

Cemig SIM anticipates the plants to be capable of powering some 2,500 customers in the reduced voltage commercial as well as industrial market.

The closing undergoes conditions normal for these sort of deals, Cemig added.