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Omega Energia (MEGA3) Will Invest Over 250 Million Reais in Solar Energy After Signing Partnership With Apolo Asset. The New Partnership Manages Proprietary and Third-Party Resources Exclusively in the Renewable Energy Sector.
This Monday, (07/18), Omega Energia’s partnerships department announced that the company has signed a memorandum of understanding with Apolo Asset, less than a month after closing a deal with the private equity firm Actis. The new collaboration aims to secure new investments in renewable energy, particularly solar photovoltaics.
New Partner Seeks to Focus Especially on Renewable Sources
In this sense, Apolo Asset, the company’s new partner, manages proprietary and third-party resources exclusively for the energy sector, with a primary focus on renewable energy sources. According to the negotiated terms, Omega and Apolo Asset will each invest between R$ 100 million and R$ 250 million in subscription and capitalization in shares of a new holding company focused on solar energy generation to be established.
Additionally, Omega states that the transaction is still subject to the formalization of definitive documents and other usual conditions for transactions of this type; however, it promises to keep the market informed about the next steps to be taken by the companies. Nevertheless, the company emphasizes that the partnership is highly exciting for both parties.
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Thus, the definitive documents currently being formalized for the transaction aim to create definitive contracts to achieve the transaction potential involving new investors in solar photovoltaic generation plants, primarily. Furthermore, the contract intends for companies that do not only invest in solar energy but in all renewable sources of the energy sector.
Omega Energia Already Secures Partnerships for Renewable Energy
It is worth noting that this is not Omega’s first partnership focused on renewable energy. This is because the company’s shares rose by 19% on the B3 at the end of June, after a deal with the private equity firm — companies that are not listed on the stock exchange — Actis, a global investment company focused on energy, infrastructure, and real estate asset classes. The deal brought Actis into Omega’s core shareholder group and secured financing of R$ 850 million to complete the company’s expansion.
Moreover, the company stated that through a U.S. subsidiary, it is about to finalize a deal with an infrastructure asset manager in the U.S., though the name of the manager has not been revealed. This agreement anticipates possible investments of up to US$ 500 million in renewable projects to be developed or even acquired in the country.
According to Omega (MEGA), discussions between the partners are progressing toward the acquisition of rights over a wind energy project with a projected installed capacity of 531 megawatts (MW) located in Texas. The company also expressed high expectations that this collaboration can succeed and provide benefits for both parties, similar to the partnership with Apolo Asset.
It is important to remember that Omega Generation is the investment platform for 100% clean energy generation. The company manages, operates, and maintains the acquired and operational assets. The company is also a publicly traded company listed on B3, Brazil’s official stock exchange, (MEGA3).
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