Brookfield Asset Management has received approval from Brazilian antitrust regulator Cade to build solar energy projects in Ceará, a state in northeastern Brazil.
The transaction marks Brookfield’s entry into the Brazilian solar energy market.
The Canadian investor will have nine solar power plants with a total capacity to produce 278 megawatts of electricity.
Through its local holding company, Lethe Energia SA, Brookfield is buying the solar assets from Alex New Energies Investimentos e Participacoes Ltda, a subsidiary of domestic contractor Steelcons.
