U.S.-engineered products and infrastructure development company Valmont Industries Inchas acquired a majority stake in Brazilian solar developer Solbras.
The financial terms of the transaction were not revealed. Valmont said Solbras will be rebranded ‘Valley’ and will expand its Brazilian PV offering into agri-business in particular, as well as other sectors of the economy.
“Combined with the strong presence of Valley equipment in fields around the world and our industry-best dealer network, we will leverage the expertise of Solbras beyond Brazil,” said João Rebequi, vice president of Valmont Irrigation Latin America. “This will further our leadership position in all facets of irrigation and agricultural technology.”
Solbras operates throughout Brazil and the new operation will expand its services globally through the Valley dealer network. New services will include generation of solar energy; approval, design and engineering of technical projects; and advice on new photovoltaic plants which are focused on agri-business. All Valmont solar facilities will also include remote monitoring and control capabilities.
Valmont is the largest shareholder of Italian solar tracker manufacturer Convert Italia SpA, which it acquired in 2018. Rome-based Convert has offices in Brazil and Argentina.