Brasil Solar Plans To Build 38 Solar Power Plants By Creating Fund And Raising R$ 900 Million In Financing

Written by Roberta Souza

Published on 15/09/2022 at 11:20

Foto: reprodução www.brasilsolareng.com.br

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The Company’s Goal with the Construction of Solar Power Plants Is to Open Up the Market to the Opportunity to Participate in a Green, Renewable Investment Aligned with ESG Standards and With Predictable and Attractive Returns

Usinas Brasil Solar (BRS) is a company specialized in distributed generation. It created a Private Equity Fund for Infrastructure Projects (FIP-IE), OBB Brasil Solar. The first capital raise will take place in 2022 and aims to raise R$ 400 million. In 2023, if approved by the shareholders, there will be a second phase of the fund aiming to raise another R$ 500 million and enable an additional 65 MW in projects. The purpose is to finance the construction of 38 solar power plants in the country, which will be located in the southeast.

What Is the Motivation for Financing?

In 2022, the fund will be open only to professional investors, represented by those with a minimum net worth of R$ 10 million. Starting in January 2023, however, it will be open to qualified investors, who have a net worth of R$ 1 million, with a minimum ticket size of R$ 50 thousand.

In an interview with EXAME IN, Rafael D’Angelo, director of Usinas Brasil Solar, stated that the company’s goal is to open up the market to the opportunity to participate in a green, renewable investment aligned with ESG standards and with predictable and attractive returns.

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Where Will the Funds Go?

The funds will be used to finance the construction of 38 new solar power plants in Brazil, mainly for the purchase of equipment and solar panels. There will be no land acquisition with the money, but leases will be made to install the solar panels at each of the sites. The plants will be located in three regions: São Paulo, Rio de Janeiro, and Minas Gerais. These states were chosen because they combine an attractive energy tariff, tax incentives, and high energy demand.

The future capacity of each of the plants will be 1MW. The executive says that selling blocks of 1MW is easier for attracting investors, but the company is not limited to this, as the plants are prepared for expansion and could reach 2.5MW.

Considering only the starting point, without expansions, the generation will be 1,800 Mwh/year, enough to supply about 1,000 households, based on the average consumption in the country. Despite the comparison, the energy will initially be sold mainly to small and medium-sized commercial establishments, which aim to reduce their energy costs compared to the traditional supply system. An important point is that all future capacity of the plants to be built is already contracted.

Currently, Brasil Solar’s installed capacity consists of two plants that will start operations later this month: Avelar 1 and Avelar 2, located in the mountainous region of Rio de Janeiro. They have a power output of 1MW, as required by the company’s standard, serving, individually, 24 clients, equally distributed. They are predominantly restaurants and offices, but the company’s aim is to focus increasingly on diversifying this audience, laying the foundations to serve individual clients.

Solar Energy Sector Creates Competition

Usinas Brasil Solar is not the only company seeking investors to stimulate investment in solar energy. Sunrun, a U.S. company that provides photovoltaic systems for homes, acquired the competitor Vivint Solar in 2020 in a deal worth US$ 3.2 billion. The goal was to target the U.S. market, where distributed generation has only a 3% penetration rate.

Turning attention to Brazil, in June of this year, the U.S. renewable energy company Energea announced that it is expanding its focus, especially in solar energy in Brazil. According to information published by Reuters, the company has about 60 solar power plants in Brazil and plans to increase its capacity to 0.5 gigawatts, from the current 100 megawatts. Co-founder Mike Silvestrini told the news agency that Brazil is undeniably the most attractive solar energy market in the world.

This is due to the high solar irradiation levels in the country. A common comparison in the sector is with Germany, a country that continuously invests in this type of generation. In Brazil, the light incidence is 50% higher than in Germany, allowing for greater energy generation in virtually all regions of the country. Furthermore, an estimate from Absolar suggests that by 2022, the installed capacity of this matrix will reach 24.9GW in Brazil, a growth of more than 90% compared to the end of last year.

Brasil Solar aims to demonstrate, amid the recent approval of the regulatory framework for the sector and the increasingly frequent discussions about this generation model as an alternative to advance amid a growing demand, that it has the capacity to be the company that will bring ‘the energy of the future’ ever closer.

Brasil Solar Plans To Build 38 Solar Power Plants By Creating Fund And Raising R$ 900 Million In Financing

The Company’s Goal with the Construction of Solar Power Plants Is to Open Up the Market to the Opportunity to Participate in a Green, Renewable Investment Aligned with ESG Standards and With Predictable and Attractive Returns

What Is the Motivation for Financing?

Where Will the Funds Go?

Solar Energy Sector Creates Competition

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Brasil Solar Plans To Build 38 Solar Power Plants By Creating Fund And Raising R$ 900 Million In Financing

The Company’s Goal with the Construction of Solar Power Plants Is to Open Up the Market to the Opportunity to Participate in a Green, Renewable Investment Aligned with ESG Standards and With Predictable and Attractive Returns

What Is the Motivation for Financing?

Where Will the Funds Go?

Solar Energy Sector Creates Competition

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At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

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