Fund manager Augment Infrastructure has partnered with IFU, Denmark’s state investment programme for developing markets, to make an $85m (€83m) equity investment in Órigo Energia to help the Brazilian renewables firm expand its solar generation assets.

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

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

IFU said its investment has been 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 single investment thus far.

Torben Huss, the CEO of IFU, said: “IFU has made several investments in renewable energy in Brazil, and we are pleased to continue our engagement in supporting the green transition in the country through our SDG Fund I by investing in Órigo Energia, a business model innovator and a 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 excited to become a shareholder in Órigo Energia. Brazil has implemented a robust regulatory framework that we believe promotes the growth of distributed generation in the country and makes Origo well positioned to maintain its leadership in the sector.”

Surya Mendonça, Órigo Energia’s CEO, said: “This capital contribution provides Órigo with the autonomy to accelerate the construction of solar farms, to continue investing in technology, and to expand its service to new geographies.

“This, in turn, democratises access to solar energy, which allows for the preservation of natural resources and client savings on electricity bills.”

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

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics