Portuguese power group EDP buys company in Brazil

1 July 2015

EDP Grid Gestão de Redes Inteligentes de Distribuição, a subsidiary of EDP – Energias do Brasil, of Portugal’s EDP – Energias de Portugal, has bought the entire share capital of Brazilian company APS Soluções de Energia, according to a statement from the group issued Monday.

The purchase price was 27.2 million reais to be paid over five years and the contract of sale included the possibility of additional payments based on performance targets.

Brazilian company APS Soluções de Energia, founded 23 years ago, operates in the area of ​​energy efficiency, and has a portfolio of 600 customers over the industrial, commercial, rural and public service segments, according to the group.

EDP ​​Grid Gestão de Redes Inteligentes de Distribuição is a subsidiary of EDP Brazil the provides services to projects for infrastructure construction, energy efficiency, distributed photovoltaic production and dissemination of the concept of smart electricity grids.

The transaction should be completed by the end of the year and is subject to approval of APS creditors and Brazil’s competition authority, the Administrative and Economic Defence Council (Cade), among others. (macauhub/BR/PT)