M&As this week: EDF Renewable Energy and Uniper

28 April 2016 (Last Updated April 28th, 2016 18:30)

EDF Renewable Energy (EDF RE) has announced the acquisition of Global Resource Options (groSolar), a commercial and utility scale engineering, procurement, and construction (EPC) services provider for solar photovoltaic (PV) projects.

renewable

EDF Renewable Energy (EDF RE) has announced the acquisition of Global Resource Options (groSolar), a commercial and utility scale engineering, procurement, and construction (EPC) services provider for solar photovoltaic (PV) projects.

groSolar will continue to operate independently as a business unit to EDF RE. Prior to this transaction, the company was involved in developing more than 150MW (2,000 installations) of solar PV systems across the US.

The new business unit will primarily serve corporate customers, providing them with cost-effective renewable energy sources.

Marathon Capital provided financial advice to groSolar for the transaction.

Uniper has announced its plan to sell a 12.25% stake in Brazilian power generation company Eneva, for approximately R$257.25m ($72.17m). This is a part of its larger plan to divest assets worth €2bn ($2.25bn) by 2018 in an attempt to reduce its debt.


Image: groSolar provides its customers in the US with cost-effective renewable energy sources. Photo: courtesy of Para.