EDP Brasil buys local solar company 77Sol

• EDP Energias do Brasil SA (BVMF: ENBR3) and independent exclusive equity as well as venture capital manager Crescera Capital have spent BRL 14 million (USD 2.6 m/EUR 2.5 m) in Brazilian solar business 77Sol.

The local arm of Portuguese utility EDP - Energias de Portugal SA (ELI: EDP) claimed on Wednesday this investment belongs to its approach to play a leading role in the Brazilian power shift field as it strengthens its financial investments in sustainable resources.

EDP made the investment in 77Sol with its company venture capital EDP Ventures.

77Sol functions as a one-stop-shop platform that offers commercial tools for the style of customized solar projects, modern technology for the right sizing of solar (PV) systems in addition to insurance contracting, among others.