Brazilian energy company Brasol Participacoes e Empreendimentos S.A., controlled by BlackRock Inc., plans to acquire small solar energy assets in Brazil worth 20 billion reais ($3.8 billion). This is reported in a press release from Brasol.
BlackRock acquired a minority stake in the company in 2023 for an undisclosed amount.
Brasol intends to acquire assets worth up to 1.5 billion reais per year to increase electricity production. High interest rates limit the ability of some developers to refinance projects and slow down investment growth, allowing Brasol to expand through acquisitions.
Brasol has invested more than 2 billion reais in energy projects in Brazil, including solar parks and electric substations. Brasol invests in "distributed generation" projects in which electricity is produced near the point of consumption, thus avoiding transmission restrictions that have forced some projects to reduce production after a rapid increase in capacity.
Brazil increased its electricity generation by 23.7 GW in 2024 due to new wind and solar capacity, but growth will slow by 2027 as electricity production outstrips demand and puts strain on the grid.
BlackRock, Inc. is an American multinational investment company with headquarters in New York (USA). The company provides investment management, risk management, and consulting services to retail and institutional clients. BlackRock is one of the world's largest companies in terms of assets under management, worth $12.53 trillion. The market capitalization is estimated at $179.08 billion.
Brasol Participacoes is a Brazilian investment company in the field of renewable energy sources. The company develops infrastructure for the transmission of electricity and batteries for utilities. The headquarters is located in Sao Paulo (Brazil).
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