ENGIE has signed an agreement for the acquisition of 100% of Atlas Energia Renovável do Brasil SA and Atlas Brasil Energia Holding 2 SA This acquisition will allow ENGIE to have new photovoltaic solar power plants in the Northeast (Bahia and Ceará) and the South-East (Minas Gerais), for a total capacity of 545 MWac in operation.

The value of the transaction amounts to 618 million euros. It may be adapted according to certain contractual conditions.

This acquisition strengthens ENGIE's position in Brazil, a key country in which the Group has been present for more than 25 years with 2,400 employees, and already operates 10 GW of 100% renewable installed capacity. Over the past six years, ENGIE has invested more than 3.8 billion euros in the energy transition in Brazil, particularly in renewable energies and the construction of electricity transmission lines .

Thanks to this investment, ENGIE will benefit from contracted long-term assets, offering attractive and immediately contributory returns.

Paulo Almirante, Deputy Managing Director in charge of Renewables, Energy Management and Nuclear activities, declared: 
“This acquisition is fully in line with ENGIE’s strategy. It strengthens the Group's portfolio of operating renewable assets and its presence in Brazil. At this time in the market, this targeted and opportunistic acquisition of operating assets is an attractive option to effectively develop ENGIE's activities while benefiting from synergies with our already existing activities. This transaction also contributes to our ambition to reach 50 GW of installed renewable capacity by 2025 and 80 GW by 2030.”

Completion of the transaction is subject to compliance with certain preconditions negotiated between the parties, including, among others, the approval of the Administrative Council for Economic Defense (CADE) of Brazil.

KeyFacts Energy Industry Directory: ENGIE