08 February 2022
Brazilian energy company Grupo Urca has hired BMA - Barbosa, Müssnich, Aragão to purchase Rio de Janeiro-based biomethane producer Gás Verde.
Azevedo Sette Advogados advised Gás Verde in the deal, which closed on 21 January.
Following the purchase, Grupo Urca plans to expand Gás Verde’s biomethane production plant in Seropédica, Rio de Janeiro.
As part of the transaction, the company is buying two biogas plants in the suburbs of Nova Iguaçu and São Gonçalo, also in the Rio de Janeiro metropolitan area. Grupo Urca intends to replace those with biomethane facilities by 2023.
With the acquisition, the buyer aims to position itself as the main biomethane producer in the South American country. Together, the three plants are expected to generate more than 400,000 cubic metres of biomethane per day.
Biomethane is a renewable source used for electricity production and heating purposes, as well as fuel for transport vehicles. Its use reduces the need for fossil fuels while lowering water, soil and air pollution.
Founded in 2009, Gás Verde manufactures biogas from waste products, as well as supplying biogas for domestic use.
Grupo Urca has operations in Rio de Janeiro, São Paulo and Mato Grosso, where its 13 energy generation projects are distributed. The company expects to register revenues of 500 million reais (US$91 million) by the end of 2022.
Counsel to Grupo Urca
BMA - Barbosa, Müssnich, Aragão
Partner Miguel Ramos and associates Adriano Guatimosim Carneiro and Raul Rinaldo Baptista
Counsel to Gás Verde
Azevedo Sette Advogados
Partners Leonardo Moreira Costa de Souza, Alessandra Martins de Souza, Maurício Salin, Alessandra Ganz and Luiz Eduardo Salles, and associates Natasha Hinata and Ingrid Bandeira Santos