EDP Brasil shuts procurement of solar DG platform from AES Tiete

• EDP Energias do Brasil SA (BVMF: ENBR3) announced on Monday it has wrapped up the purchase of a roughly 34-MWp solar distributed generation (DG) platform from power producer AES Tiete Energia SA.

EDP Brasil has purchased 100% of AES Tiete shares in AES Inova Solucoes de Energia Ltda and also the corresponding subsidiaries AES Tiete Inova Solucoes de Energia I Ltda and also AES Tiete Inova Solucoes de Energia II Ltda.

The local device of Portuguese utility EDP - Energias de Portugal SA (ELI: EDP) will pay BRL 101.1 million (USD 19.8 m/EUR 16.3 m), consisting of BRL 66.6 million on the respective day and BRL 34.5 million to be preserved until the enforcement of a few commitments after closing.

From the obtained solar DG portfolio, some 16 MWp connect to gotten or commercially running plants, standing for around BRL 11.5 million in profits. The various other 18 MWp are ready-to-build projects in Minas Gerais state.