BROOKLYN, N.Y., June 15, 2021 /PRNewswire/ -- Energea Global, a
U.S.-based renewable project developer and retail investment
platform, has announced a $63 million
commitment from VH Global Energy Opportunities PLC ("GSEO") to
co-invest in distributed solar projects across Brazil.
GSEO, a $340 million London-listed investment trust which launched
in February 2021, will deploy capital
into select remote distributed power generation projects in
Brazil. The projects will aim to
expand community access to cleaner and cheaper forms of renewable
energy.
The joint initiative has identified 18 ready-to-build projects
across 10 Brazilian states. Each project involves building a solar
power plant to supply energy to local commercial and industrial
customers as well as large global corporations with operations in
Brazil. It has a dual effect of
improving secure, localised access to clean energy and helping to
lower energy prices.
Mike Silvestrini, Energea's
managing partner, said: "Brazil is one of the most exciting markets in
the world when it comes to renewable power and we are proud to have
the backing of the expert team at GSEO to further develop
distributed power generation across the country. Right now,
Brazil has the perfect combination
of supportive policy, strong energy economics, foreign exchange,
and customer adoption, marking it a prime opportunity for investors
looking for attractive returns on investment while helping to slow
down climate change."
Eduardo Monteiro, co-chief
investment officer of Victory Hill Capital Advisors LLP ("Victory
Hill"), investment advisor to GSEO, added: "As
promised to investors, this funding commitment marks the beginning
of a very exciting journey for the company in Brazil, where we can support real and lasting
improvements in the country's energy infrastructure. Brazil is experiencing rapid growth in its
energy sector and there is significant potential for investors with
the right expertise to help contribute to the country's growth with
cleaner and reliable sources of power."
Notes to editors
*The ten states targeted by
GSEO for distributed power generation projects: Sao Paulo;
Rio de Janeiro; Minas Gerais;
Para, Piaui; Rio Grande do Norte; Mato
Grosso do Sul; Bahia; Sergipe; and Paraiba.
Distributed power generation: Distributed generation refers to
the use of technology such as solar panels to generate electricity
close to where it will be used. It can serve either a single home
or business, or form part of a 'microgrid' tied into a larger
electricity network which can be used to serve multiple homes and
businesses. Distributed generation can help support delivery of
clean, reliable power to additional customers and reduce
electricity losses along transmission and distribution lines and
help lower energy prices.
About Energea
Energea is a renewable energy portfolio
manager that connects investors to premium projects in select
global markets. The company manages capital from individual,
corporate and institutional investors. Energea currently has over
70 megawatts of projects under construction across three
continents. Over the last 15 years, Energea's experienced
team has managed more than a billion dollars of solar energy
projects.
The company has developed an online investment platform that
makes investing in renewable energy accessible to any U.S.
investor, unlocking a crucial source of capital to combat climate
change.
To learn more visit https://www.energea.com
About Victory Hill Capital Group
LLP
Victory Hill Capital Advisers LLP is the
investment-focused subsidiary
of Victory Hill Capital Group LLP
Victory Hill is based in London and was founded in May 2020 by an experienced team of energy
financiers that spun-out of a large established global project
finance banking group. The team have an established track record
built over five years while working together in their previous
roles and participating in more than $37.1
billion in sustainable energy project transaction values,
generating more than 24.2 per cent equity returns. In addition, the
team has also participated in more than $200
billion in transaction values across 91 conventional and
renewable energy-related transactions in more than 30 jurisdictions
worldwide, throughout their individual careers. The average
experience per individual is 21 years of relevant energy finance
experience. Victory Hill Capital Advisors LLP
is the Investment entity of
the Victory Hill group.
VHCA is a signatory of the United Nations Principles for
Responsible Investing (UN PRI), the
United Nations Global Compact (UN GC) and is a formal supporter of
the Financial Stability Board's Task-Force on Climate-related
Disclosures (TFCD).
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SOURCE Energea