Mitsui formally buys 17% stake in Brazilian solar co Origo

Author: Capman Green Energy Fund / All rights reserved.

April 15 (Renewables Now) - Japanese general trader Mitsui & Co Ltd (TYO:8031) on Friday confirmed it has bought a 17% stake in Brazilian distributed generation (DG) solar company Origo Energia.

The transaction was approved by the Administrative Council for Economic Defense (CADE) in mid-March. Its value was not disclosed.

Origo Energia's business model includes managing the development, construction and operation of distributed solar parks of up to 5 MW for consortia made up of 300 to 500 Brazilian small and medium-sized enterprises such as restaurants and supermarkets.

Surya Mendonça, Origo Energia's CEO, said in an earlier statement that Mitsui's capital contribution will help the company double its customer base to close 2019 with nine solar farms in the state of Minas Gerais.

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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