Global infrastructure investment manager I Squared Capital is making its first direct investment in Brazil by agreeing to invest up to $400m (鈧�365m) in distributed energy generation firm 脫rigo Energia.
I Squared鈥檚 investment, which will give it a 49% stake in 脫rigo will fund the construction of over 2GW of distributed solar generation projects in 20 states across Brazil with an estimated capital expenditure of BRL$6bn (鈧�1.1bn).
脫rigo Energia is the largest distributed generation business in Brazil with more than100,000 customers and 300MWp of distributed generation assets in operations across Minas Gerais, Pernambuco, Cear谩, Mato Grosso do Sul, Distrito Federal, and S茫o Paulo. The company offers residential consumers and small and medium-sized enterprises access to solar-powered energy at a discount from regular utilities.
Gautam Bhandari, managing partner and CIO at I Squared Capital, said: 鈥淲e have ambitious plans for renewables and are leveraging our extensive experience in this space to build a leading global renewables-focused platform consistent with I Squared鈥檚 overall approach to investing.鈥�
Surya Mendon莽a, CEO, 脫rigo Energia, said: 鈥淭his investment will allow 脫rigo to accelerate the construction of solar farms, expanding its service to thousands of new customers and over 20 states in the coming years.
鈥淚t will also reinforce our technology and customer experience focus, in line with the purpose of making solar energy accessible to small and large businesses as well as retail customers, while generating savings and driving Brazil to a greener future.鈥�
To read the latest 91传媒在线 magazine click here.
