French renewable energy producer Albioma has entered the Brazilian solar market with the acquisition of a portfolio of six PV power plants.
Under the terms of the contract signed with solar developer GreenYellow, Albioma becomes the sole shareholder of the companies owning these projects, which a total installed capacity of 31.6MWp.
Operating under a distributed generation system with high-quality counterparties, the power plants are located in four states and are fully operational.
The Brazilian local competition authority (CADE) has approved the transaction without restrictions, Albioma said.
The contract is subject to other price adjustments and other clauses typical of this type of transaction, it added.
The acquisition of this portfolio marks Albioma’s entry into solar power in Brazil, a business with strong growth potential and which complements its existing assets.
Operating its historical biomass business model in Brazil since 2014, Albioma is thus continuing to develop here, in line with its international diversification strategy.