On 5/2/2019 Energisa signed the contract to acquire 87% of the capital of Alsol Energias Renováveis S.A, the company of Algar Empreendimentos, which is the leading photovoltaic energy firm in Brazil. The transaction was worth R$ 11.7 million, subject to adjustment.
Founded in Uberlândia, Minas Gerais state, Alsol is a Brazilian company that offers a portfolio of generation solutions primarily based on photovoltaic solar solutions and other renewable solutions such as biogas, biomass, wind power and hydroelectricity. The company is also one of the pioneers in Brazil in lithium-battery storage. Alsol had installed upwards of 80 thousand photovoltaic panels in Brazil by last year, resulting in more than 25 MWp operating in 12 Brazilian states.
Energisa Group intends to ramp up Alsol’s R&D activities to launch innovative products and services, and will initiate a partnership with Algar Group to foster the development of joint solutions for Brazil’s consumer market.