Augment Infrastructure and IFU Take Stake in Brazilian Renewable Energy Company | New

Fund manager Augment Infrastructure has partnered with IFU, the Danish state investment program for developing markets, to invest $85 million (€83 million) in Órigo Energia to help the Brazilian renewable energy company to expand its solar generation assets.

Órigo, which currently operates approximately 150 MW of renewable energy in Brazil, owns solar farms and serves residential and small and medium business customers.

The new equity investment is expected to help further develop Órigo’s solar generation assets over the next 12 to 18 months.

IFU said its investment was made through the Danish Sustainable Development Goals Investment Fund (SDG Fund I), a fund backed by Danish and Swedish pension funds and institutional investors. The investment in Órigo is SDG Fund I’s largest investment to date.

Torben Huss, CEO of IFU, said, “IFU has made several renewable energy investments in Brazil, and we are excited to continue our commitment to supporting the green transition in the country through our SDG I Fund by investing in Órigo Energia, a business model innovator and solar DG developer in Brazil.

The deal is IFU’s second partnership with Augment Infrastructure following its joint investment in Indian commercial and industrial developer CleanMax in 2021.

Viktor Kats, managing partner of Augment Infrastructure, said: “We are delighted to become a shareholder of Órigo Energia. Brazil has a strong regulatory framework in place which we believe supports the growth of distributed generation in the country and positions Origo well to maintain its leadership in the sector.

Surya Mendonça, CEO of Órigo Energia, said: “This capital injection gives Órigo the autonomy to accelerate the construction of solar parks, continue to invest in technology and extend its service to new geographical areas.

“This, in turn, democratizes access to solar power, which helps conserve natural resources and save customers on electricity bills.”

Órigo shareholders include TPG ART Fund, MOV Investimentos and Mitsui.

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Laura J. Boyer