ArcelorMittal buys majority stake in Brazilian solar holding
- Admin
- Sep 19, 2024
- 1 min read
Brazil's competition regulator, CADE, has approved ArcelorMittal's acquisition of a solar power holding from Casa dos Ventos. ArcelorMittal acquired a 55% stake in BBC Solar Subholding SA, which owns special purpose entities developing solar power plants in Bahia state. The capacity and financial details of the projects remain undisclosed. The SPEs will construct a solar power complex in Varzea Nova and Morro do Chapeu to supply electricity to the steel manufacturer and sell surplus on the market.
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