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New Deal


Announced

EDP Renewables to acquire an 85% stake in C2 Omega from C2 Energy Capital.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For85%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Cross Border

Single Bidder

Private Equity

Majority

United States

solar platform

Renewable Energy Equipment

Acquisition

Friendly

Pending

Synopsis

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EDP Renewables North America, a renewable energy company, agreed to acquire an 85% stake in C2 Omega, a distributed solar platform, from C2 Energy Capital, an investor & long-term owner of renewable energy & storage assets. Richard Dovere and Candice Michalowicz, shareholders of the C2 Omega, agreed to divest their stake as part of the deal. Financial terms were not disclosed. “We went through an exhaustive research and vetting process before deciding to acquire C2 based on its impressive track record, strong management team, and quality of existing assets. This investment will enable us to serve a rapidly growing market and to offer our customers a range of new services and solutions to meet their renewable energy needs," Miguel Angel Prado, EDP Renewables North America CEO.

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