Energy Giant Engie (EGIE3) Bets on Solar Power Potential in Brazil and Signs R$ 3.24 Billion Purchase Contract Involving Power Plants in Bahia, Ceará, and Minas Gerais

Written by Flavia Marinho

Published on 03/11/2023 at 16:50

Usina solar Capricornio / Imagem Engie

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Purchase Of Plants In Bahia, Ceará And Minas Gerais Is Strategic: States Have Abundant Natural Resources And A Favorable Climate For Solar Energy Generation

Engie (EGIE3), one of the leading companies in the energy sector, announced a significant strategic move by signing a contract for the acquisition of photovoltaic sets in the northeast of Brazil. This acquisition, which involves solar parks in the states of Bahia, Ceará, and Minas Gerais, aims to strengthen Engie’s presence in the solar energy market and contribute to the sustainable growth of the sector in the country.

With a substantial investment and a strong presence in key states, Engie is prepared to lead the transition to a cleaner and more efficient energy matrix in Brazil, contributing significantly to a more sustainable future. This acquisition represents an important step towards a society with a lower environmental impact, driving the development of solar energy in the country.

Watch The Video Below And Get To Know The Amazing Capricorn Solar Plant

Total Value Of The Purchase Of The Plants Is An Impressive R$ 3.24 Billion, Including Debts

The purchase of the photovoltaic sets from Atlas represents a substantial investment of R$ 3.24 billion, including the assumption of the debts of the acquired company. Of the total amount, up to R$ 2.27 billion is allocated to the purchase of assets, while Atlas’ net debt amounts to R$ 971 million. This considerable value highlights Engie’s commitment to expanding its participation in the solar energy sector by leveraging the growing demand for clean and sustainable energy sources.

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The solar parks Juazeiro, São Pedro, Sol do Futuro, Sertão Solar, and Lar do Sol, belonging to Atlas, represent strategic assets with a total installed capacity of 545 MWac. These parks are located in three key states: Bahia, Ceará, and Minas Gerais. The presence in different geographical regions allows Engie to diversify its exposure to the solar energy market, taking advantage of the favorable climatic conditions in these areas for the generation of clean and renewable energy.

Engie is not only acquiring solar plants but also a diversified portfolio of operating assets. Most of these plants have contracts in the regulated market (ACR), providing a solid revenue base. Additionally, the inclusion of a set of plants in Minas Gerais that operates in the free environment (ACL) offers flexibility and opportunities to explore different segments of the energy market.

Engie’s Strategy For The Future Of Solar Energy In Brazil

This strategic acquisition reflects Engie’s vision for the future and its bet on the potential of solar energy in Brazil. Eduardo Takamori, Chief Financial Officer and Investor Relations of Engie Brasil Energia, notes that “the acquisition of operating assets, with contracted energy, has become an attractive option to expand our business at this moment in the market.” The company is committed to providing clean and sustainable energy, contributing to the reduction of carbon emissions and a greener future.

Engie’s portfolio diversification will contribute to a more stable and sustainable energy supply, as well as strengthen its position as a leader in the renewable energy sector in Brazil and worldwide.

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Energy Giant Engie (EGIE3) Bets on Solar Power Potential in Brazil and Signs R$ 3.24 Billion Purchase Contract Involving Power Plants in Bahia, Ceará, and Minas Gerais

Purchase Of Plants In Bahia, Ceará And Minas Gerais Is Strategic: States Have Abundant Natural Resources And A Favorable Climate For Solar Energy Generation

Watch The Video Below And Get To Know The Amazing Capricorn Solar Plant

Total Value Of The Purchase Of The Plants Is An Impressive R$ 3.24 Billion, Including Debts

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Engie’s Strategy For The Future Of Solar Energy In Brazil

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Energy Giant Engie (EGIE3) Bets on Solar Power Potential in Brazil and Signs R$ 3.24 Billion Purchase Contract Involving Power Plants in Bahia, Ceará, and Minas Gerais

Purchase Of Plants In Bahia, Ceará And Minas Gerais Is Strategic: States Have Abundant Natural Resources And A Favorable Climate For Solar Energy Generation

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