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Brazil approves acquisition of renewable energy firms by EDP

Bnamericas Published: Monday, November 28, 2022
Brazil approves acquisition of renewable energy firms by EDP

Brazil's antitrust regulator Cade has approved the acquisition of 15 power generation specific purpose entities (SPEs) of the Acek group by EDP Renováveis Brasil (EDPR).

The decision was published on Monday in the federal gazette. 

Headquartered in Minas Gerais state, the SPEs are responsible for wind and PV solar projects in the development stage.

Acek is composed of multinational companies operating in Brazil and worldwide in the automotive, steel and renewable energy sectors. 

EDPR is an EDP Group company, operating globally in the electric energy sector in the areas of generation, transmission, distribution, purchase, supply, import and export of energy in several locations. 

In Brazil, the EDP Group also operates in the generation, commercialization, distribution and transmission of electric energy.

Cade said the combined market share of EDP and the SPEs is lower than 20%, "not giving rise to competition concerns."

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