AXS Energia, a solar energy company, secured a $5 million senior debt facility from Triodos Emerging Markets Renewable Energy Fund and Triodos Groenfonds for the construction of 14 ground-mounted solar projects in Brazil with a combined capacity of 39.7 MW. CIFI Services is the lead arranger of this $54 million project.
All the solar projects are currently under construction and are expected to start operations in the second quarter of 2024. The energy generated by the 14 solar projects will be directly injected into the grid near the point of use, which means it is placed close to the end consumers, mainly small businesses.
AXS Energia has developed an app that allows customers to get discounts on the energy generated by solar plants. With this app, customers can also access their invoices, look at their energy consumption, and track energy savings.
Altynai Valikhanova, Head of Project Debt (renewable energy in emerging markets): ‘We see this transaction – our first in Brazil – as a welcome addition to our renewable energy portfolio in emerging markets. The project boosts distributed renewable energy and has clear environmental and social benefits: reduction of greenhouse gas emissions, provision of energy security, and employment and income opportunities. It also marks the start of our relationship with CIFI, a reputed player in infrastructure and energy projects in Latin America.”
According to Mercom’s Q4 and Annual Global Solar Funding and M&A report, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.
Primergy Solar, a developer, owner, and operator focused on distributed and utility-scale solar PV and battery storage projects, announced the closure of its $588 million commitments in debt financing for the 408 MW Ash Creek solar project in Hill County, Texas.
