EDP Brazil will invest in Blue Sol, solar energy

Last Monday (28), Energias do Brasil (EDP Brasil), the electricity sector, reported that it signed an investment agreement in Blue Sol, Blue Sol Solar Energy, Blue Sol Franquia and Blue Sol Educacional. Blue Sol operates in the distributed solar generation segment and has a model composed of 34 franchises distributed in 16 states of the national territory. With the agreement, EDP Brasil aims to acquire a minority stake of up to 40% of the company's share capital.

The agreement gives EDP Brasil the option to acquire control of Blue Sol three and a half years after the completion of the deal, which is scheduled for the first quarter of 2021. The investment agreement is still subject to verification.

In 2020, Blue Sol sold more than 17.5 MWp of power, recording a turnover of R$ 65 million, with its operations focused on the B2C (consumer company) branch.

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