Brasol, a Brazilian company focused on energy transition and ed by funds from BlackRock and Siemens, has just closed an important agreement for the acquisition of solar parks from BC Energy, an energy trader with a strong presence in the Center-West of Brazil.
The partnership marks a strategic step for Brasol's expansion in the DG (distributed generation) market, since, in this first moment, Brasol will take control of 13 photovoltaic projects under development in the states of São Paulo, Goiás, Tocantins and Distrito Federal, with an installed capacity of 60 MW.
These projects should require investments of around R$250 million. In the long term, Brasol intends to expand its portfolio, acquiring a total of 35 solar plants, which will add 150 MW to its capacity by the end of 2025.
In total, investments could reach R$800 million, according to Ty Eldridge, CEO of Brasol, informed the Price. Brasol's strategy is to prioritize the use of capital to complete projects under development, ensuring that they are ready for operation as soon as possible. “The first phase projects already have a contracted customer base,” said Eldridge.
These initial projects were ed before the change in the legal framework for distributed generation. According to the company, this factor was crucial in the decision to move forward with the acquisitions, taking advantage of more favorable conditions.
Eldridge also informed that after the completion of the first 13 projects, Brasol will be able to exercise the option to purchase the minority stake that BC Energia holds in the plants.
According to him, the strategy is to transform these acquisitions into “sale and leaseback” operations, where BC Energia will continue to operate and sell the energy generated, while Brasol remains the owner of the assets.
This model provides financial flexibility for both parties, allowing BC Energia to focus on its commercialization expertise and Brasol to maximize the return on acquired assets.
About Brazil
Created in 2017 by Ty Eldridge and two other executives with extensive experience in international solar generation, Brasol was born with the purpose of leading the energy transition in Brazil.
In 2020, Siemens acquired 49% of the company, later reducing its stake to around 35%. In 2023, BlackRock entered Brasol's capital through the Climate Finance Partnership fund, acquiring 45% of the company.
Today, Brasol already has 150 MW of operational capacity and plans to add another 300 MW, with a total of more than US$1 billion invested in projects throughout Brazil.
In addition to solar energy generation, Brasol is also interested in expanding its operations to the energy transmission and distribution segments.
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