May 6 (Renewables Now) - Brazilian electricity distributor Energisa SA (BVMF:ENGI3) has signed a contract to buy an 87% stake in local distributed generation (DG) firm Alsol Energias Renovaveis SA.
Energisa is paying BRL 11.7 million (USD 2.9m/EUR 2.6m) for the controlling shares in Alsol, part of the Algar SA Empreendimentos e Participacoees and Gustavo Malagoli Buiatti. The price is subject to adjustments normally carried out in this type of transactions.
Energisa’s stake, the exercise of their respective voting rights and the limitations on the transfer of shares issued by Alsol will be reflected in a shareholders' agreement to be concluded between the parties.
The closing of the transaction is subject to the approval of the Brazilian antitrust regulator CADE, among other agencies, the company pointed out in its press release.
Founded in 2012, Alsol is engaged in the installation of solar photovoltaic (PV), biodiesel and biogas plants that are connected to the power grid.
(BRL 1 = USD 0.25/EUR 0.23)