Cade Approves Creation of Joint Venture Between Gerdau and Shell Focused on the Solar Energy Market in Brazil

Written by Ruth Rodrigues

Published on 06/07/2022 at 10:10

Foto: Pixabay

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A Joint Venture Between Gerdau and Shell, After Cade’s Approval for Its Creation, Will Be Responsible for Investments and Exploration in the Solar Energy Market in Brazil, Focusing Mainly on the Solar Park Located in Minas Gerais.

The General Superintendence of the Administrative Council for Economic Defense (SC/Cade) approved last Friday, (06/01), the creation of the joint venture between Gerdau and Heze I Holding S.A., owned by Shell. Thus, the new company formed by the union of both will be responsible for the exploration of a solar power generation park in Janaúba, Minas Gerais, focusing on expanding the market in Brazil.

Joint Venture Between Gerdau and Shell Will Be Essential for the Company’s Focus on the Solar Energy Market, Leveraging Growth in the National Territory

Brazil has become a world leader in harnessing solar energy as an alternative and renewable energy source, and in recent years, various companies have been investing in the segment in the national territory. Now, it is Gerdau’s turn to invest its resources to harness the high potential for resource generation in Brazil through the investment in the creation of the joint venture with Shell.

Gerdau has a strong presence in the Brazilian market linked to the electric energy segment, with a large portfolio of steel production for use in industries and economic sectors such as construction, automotive, agriculture, energy, industrial, and manufacturing.

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Cade Approved the Development of the Joint Venture Between the Companies Without Restrictions as the Union Poses No Risks to the Solar Energy Market in Brazil

The final opinion of Cade in support of the creation of the joint venture between Shell and Gerdau for the exploration of a solar power generation park in Janaúba, Minas Gerais, was significantly motivated by the lack of indications of risks to the energy market in Brazil.

This occurs because the companies have low market shares in the analyzed markets, with distinct focuses so far in Brazilian territory.

Thus, the General Superintendence of Cade conducted surveys and confirmed that the market shares held by the Shell Group and Gerdau Group in the generation of electricity in Brazil is less than 10%. The energy commercialization sector is also not strongly tied to the companies, which is why Cade does not believe there could be a market concentration or strong influences on supply and demand processes.

Should the Cade Tribunal not call for a contrary vote against the companies’ merger process, within a final period of 15 days, Shell and Gerdau will be able to proceed with the finalization of the joint venture creation and should soon begin investments in the solar energy market in Brazil.

Cade Approves Creation of Joint Venture Between Gerdau and Shell Focused on the Solar Energy Market in Brazil

A Joint Venture Between Gerdau and Shell, After Cade’s Approval for Its Creation, Will Be Responsible for Investments and Exploration in the Solar Energy Market in Brazil, Focusing Mainly on the Solar Park Located in Minas Gerais.

Joint Venture Between Gerdau and Shell Will Be Essential for the Company’s Focus on the Solar Energy Market, Leveraging Growth in the National Territory

Cade Approved the Development of the Joint Venture Between the Companies Without Restrictions as the Union Poses No Risks to the Solar Energy Market in Brazil

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Cade Approves Creation of Joint Venture Between Gerdau and Shell Focused on the Solar Energy Market in Brazil

A Joint Venture Between Gerdau and Shell, After Cade’s Approval for Its Creation, Will Be Responsible for Investments and Exploration in the Solar Energy Market in Brazil, Focusing Mainly on the Solar Park Located in Minas Gerais.

Joint Venture Between Gerdau and Shell Will Be Essential for the Company’s Focus on the Solar Energy Market, Leveraging Growth in the National Territory

Cade Approved the Development of the Joint Venture Between the Companies Without Restrictions as the Union Poses No Risks to the Solar Energy Market in Brazil

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He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

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