TozziniFreire advises Petrobras on solar assets acquisition
TozziniFreire Advogados advised Petrobras on the acquisition of a 50% equity stake in a cluster that includes a commercially operating photovoltaic plant and a pipeline of 14 greenfield solar projects. The investment marks a key step in Petrobras’ strategy to diversify its energy portfolio and advance global sustainability goals.
The deal faced significant challenges, including legislative changes linked to electricity sector reform during negotiations. Additionally, structuring the transaction as an Investment Agreement was essential to enable the prepayment of financial debts incurred by Lightsource BP for the construction of the operational plant.
The cluster and project pipeline, currently owned by Lightsource BP, represent an opportunity for Petrobras to strengthen its renewable energy capabilities and move closer to achieving carbon neutrality targets.
TozziniFreire relied on partners Leonardo Miranda (pictured left), Luiz Filipe Aranha, and Ligia Pereira Schlittler; counsel Fabiana Pasmanik; and associates Thiago Rodrigues da Silva and Ana Carolina Porcionato.
Machado Meyer, advised Lightsource BP and relied on partner Luiz Virgilio Lopes Enei (pictured right) and associates Marcella Duffles Amarante and Julia Souza Torres.
