Origo Energia bags USD-19m loan for DG solar projects in Brazil
Brazilian PV park
Brazilian solar-focused energy company Origo Energia has closed a BRL-106-million (USD 19.3m/EUR 16m) mezzanine financing deal for new solar projects at home.
The loan, granted by Blue like an Orange Sustainable Capital Fund, will be used to foster Origo Energia's growth in the solar distributed generation (DG) sector, the lender announced last week. Specifically, Origo Energia will use the funds to develop new projects for residential consumers as well as small and medium-sized companies (SMEs).
At present, Origo Energia has an installed capacity of 50 MW. Since its establishment, the company has generated over 119,580 MWh of renewable energy, serving more than 10,000 clients.
Japanese general trader Mitsui & Co Ltd (TYO:8031), Brazilian fund management firm MOV Investimentos and international investment company TPG ART are the top shareholders of the energy firm.