Canadian Asset Management Company. agrees to acquire the largest distributor of photovoltaic products in Brazil – pv magazine International

0

The transaction is expected to be finalized by the end of the month for an equity investment of $ 320 million.

Brookfield Business Partners, a unit of Canada-based asset management firm Brookfield Asset Management, has agreed to acquire Aldo, Brazil’s largest photovoltaic distributor and systems integrator.

The acquisition is expected to be finalized by the end of August. Brookfield Business Partners said in a quarterly earnings update that it had acquired Aldo and would fund “approximately $ 115 million of the $ 320 million equity investment for a 35% stake, with the balance coming from partners institutional “.

Aldo said in a statement: “The transaction will allow the expansion of the company’s domestic operations, the launch of new products and services and the continuity of the mission of supporting the development of the distributed generation market in Brazil. “

The company said its 2020 revenue was BRL 1.6 billion ($ 308.8 million). “We were one of the first to believe in the solar sector in Brazil, we are pioneers in sustainable development, and this transaction will help us to go even further, by expanding the offer to a growing market ”, said company founder and CEO Aldo. Pereira Teixeira.

In an interview with pv magazine in January, Pereira Teixeira explained the trajectory of the distributed generation segment, which in Brazil includes all photovoltaic systems not exceeding 5 MW. According to him, Brazil could see the deployment of 4 GW of new distributed solar production capacity this year and an additional 5 GW next year.

Regarding the possibility of expanding the company’s activities abroad, Pereira Teixeira said that it would take at least 10 years for the Brazilian market to be saturated. “And until then, we want to continue to grow and maintain our leadership here,” he commented at the time. “Brazil is still taking its first steps in solar energy.

This content is protected by copyright and cannot be reused. If you would like to cooperate with us and would like to reuse some of our content, please contact: [email protected]


Source link

Share.

Comments are closed.