Brazilian Omega Energia Enters into Cooperation for Solar PV Energy Projects

Brazilian energy firm Omega Energia has paved the way towards potential investments in solar photovoltaic energy. Omega Energia has a portfolio of solar, wind and hydropower plants.

In terms of latest development, the company has already signed a memorandum of understanding with local companies.

Among the local partners are Apolo Renovaveis Participacoes Ltda and Apolo Administracao de Recursos Ltda.

It has been reported that as per the agreement, Omega and Apolo Administracao will jointly invest in a new holding company. This particular company will focus on developing solar power plants.

“Specifically, the duo will each, either by themselves or using an investment fund, subscribe and pay amounts in the range of BRL 100 million to BRL 250 million (USD 46m/EUR 45m) in shares issued by the new holding company,” a report mentioned.

It has been informed that the deal is yet to be completed, as it is subject to certain conditions.