Brazilian telecommunications company Intelbras has agreed to acquire Brazil's second-largest PV system integrator and product distributor, Renovigi, for BRL334 million ($64.7 million).
“The company is one of the market leaders and recognized for its excellence in the quality of its products and proximity to its accredited partners,” Intelbras said in a filing with the Securities and Exchange Commission of Brazil. “The acquisition will provide the company's various sales channels and partners with a great opportunity to expand the availability of products to the local market and [benefit] the entire [supply] chain. In addition, the network of partners and installers will be expanded in an accelerated and synergistic way.”
According to Intelbras, Renovigi achieved a turnover of BRL799.4 million and EBITDA of BRL49.8 million in the past fiscal year. The system integrator is mainly active in the distributed generation segment, which in Brazil includes all PV systems not exceeding 5MW in size.
In July, Renovigi announced a plan to build PV system assembly factory at the Port of Pecém, in the state of Ceará, in northeastern Brazil. In 2020, the company sought to diversify its pool of suppliers when restrictions were imposed by Covid-19.
The company currently operates two production units, in Itajaí, in the state of Santa Catarina; and in Louveira, in São Paulo, where it integrates complete photovoltaic systems which are then distributed among its more-than-9,000 accredited installers. The factories use modules supplied by Risen, JA Solar, Canadian Solar, Sunshine, Talesun, and BYD.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
5 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.