Eneva Invests R$ 5.5 Million in Startup Sunne for Innovation in the Renewable Energy Market

Written by Paulo Nogueira

Published on 25/04/2023 at 10:46

Trabalhadores da Eneva/ Imagem: Divulgação

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Investment in Sunne and the Advancement in the Renewable Energy Market

04/25/2023 – Eneva, an integrated energy company, invested R$ 5.5 million in Sunne, a startup specializing in the sale of clean and sustainable energy for small and medium consumers in Northeast Brazil.

In 2021, Eneva had already invested R$ 1 million in Sunne in partnership with the investors group GVAngels. The investment aims to boost Eneva’s portfolio in the renewable energy market.

Sunne and Its Flexible Contracting Proposal

Sunne offers an innovative platform that trades electricity produced from renewable sources and distributes this capacity as credit to its clients. This ensures savings of up to 20% per month on clients’ electricity bills.

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Focus on the Northeast and Expansion to Other States

Sunne’s main focus is the Northeast of the country, where it operates strongly in the marketplace. The region is also a priority for Eneva, which this year will inaugurate the Futura I solar complex in the municipality of Juazeiro, Bahia, with an installed capacity of 670 megawatts (MW). In addition to the Northeast, Sunne also operates in Minas Gerais, Rio de Janeiro, São Paulo, and other states.

The energy trading market is in broad expansion in Brazil. New rules approved by the National Congress will allow a larger number of consumers access to this contracting model, where clients can choose their preferred suppliers without the intermediation of utilities. According to the Electric Energy Commercialization Chamber (CCEE), the free energy market grew by 7.2% in 2022 compared to 2021.

Eneva and Its Investment Strategy in Startups

The investment in Sunne aligns with Eneva’s investment theses, which seeks companies with business models focused on green economy, digitalization, efficiency increase, solutions for marketing and monetization of resources, and new sources of energy and storage.

In addition to Sunne, Eneva has in its portfolio Voltta, an urban mobility company, and Beenx, a one-stop-shop for electricity trading.

Eneva Invests R$ 5.5 Million in Startup Sunne for Innovation in the Renewable Energy Market

Investment in Sunne and the Advancement in the Renewable Energy Market

Sunne and Its Flexible Contracting Proposal

Focus on the Northeast and Expansion to Other States

Eneva and Its Investment Strategy in Startups

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Eneva Invests R$ 5.5 Million in Startup Sunne for Innovation in the Renewable Energy Market

Investment in Sunne and the Advancement in the Renewable Energy Market

Sunne and Its Flexible Contracting Proposal

Focus on the Northeast and Expansion to Other States

Eneva and Its Investment Strategy in Startups

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

Brazil filled the Northeast with wind turbines but now faces the side effect of 705 giant blades reaching the end of their lifespan by 2032 just in Rio Grande do Norte, while the world projects 43 million tons of waste by 2050.

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