EDP Energias do Brasil completes acquisition of 40% stake in Blue Sol Participacoes

EDP Energias do Brasil SA, a unit of EDP, has completed the acquisition of a 40% stake in Blue Sol Participacoes SA for a total consideration of BRL20 million (US$3.5 million). 

Blue Sol Participacoes SA is actively engaged in business-to-consumer (B2C) solar generation projects and currently operates three subsidiaries, the Blue Sol Energia Solar Ltda, Blue Sol Franquia Ltda, and Blue Sol Educacional Ltda. 

The deal is initially paid with BRL11.7 million (US$2.08 million) with the remaining BRL8.3 million (US$1.48 million) to be closed for payment within 240 days.