Energea Global, a renewable energy investment manager, recently signed a $27 million deal with BTG Pactual, the largest investment bank in Latin America, to construct a portfolio of solar projects in Brazil.
BTG Pactual's investment will be used for community solar projects in the Brazilian state of Minas Gerais, Energea said in a press release. Minas Gerais, in southeastern Brazil, is the country's second most populous state. BTG Pactual is headquartered in nearby Sao Paulo.
"This transaction shows that some of the largest and most sophisticated investors in the world, like BTG Pactual, are committing significant capital towards low-carbon infrastructure," Energea CEO Luiz Leão said in the release. "Companies like Energea, who provide the subject-matter expertise in this asset class, are pivotal to the successful allocation of this funding."
Executives from BTG Pactual were also optimistic about the future of the deal and its economic and environmental impact on the state of Minas Gerais and Brazil.
"This is not just a strong investment opportunity, but also a chance to play a crucial role in the global energy transition and improve access to affordable and clean energy for all," Rafael Chitarra, executive director of BTG Pactual, said in the release. "BTG Pactual works with businesses like Energea to accelerate Brazil's transition to cleaner, more affordable electricity."
The new solar plants are expected to generate enough energy for thousands of small businesses, with a peak capacity of 28 MW. The small businesses to be benefited have joined together in a community to efficiently share solar energy with the goal of spending less money and helping the environment.
Energea Global has its headquarters in Brooklyn, N.Y. Its website invites investors with "as little as $100" to invest in renewable energy projects in Brazil, Africa and the U.S.