Faro Energy has completed the raising of R$200 million through an incentivized green debenture structured by Itaú BBA and BTG Pactual. The transaction received an AA+(bra) rating from Fitch Ratings and was qualified as a Green Bond by Attest, in accordance with the standards of the Green Bond Principles and Green Loan Principles.
The funds will be used to finance 31 photovoltaic plants in 11 states, covering all regions of Brazil and totaling 56 MWp of installed capacity. According to the company, strong investor demand allowed favorable conditions for the issuance of the bond.
Pedro Mateus, CEO of Faro Energy, highlights that the fundraising reinforces the market’s confidence in well-structured projects aligned with the energy transition.
“Our history of innovation in the capital markets is a differentiator. We were pioneers in the issuance of Green Bonds for Solar Distributed Generation in Brazil and we continue to lead with a robust structuring that attracts qualified investors and strengthens the solar DG sector,” he says.
Raphael Roque, the company’s Director of Institutional Relations and Governance, led the structuring of the operation and emphasizes the importance of the movement for the expansion of solar energy in the country.
“Each new fundraising reaffirms our commitment to advancing efficient financial solutions for this sector that is essential for the country’s growth. The success of this issuance and the more than doubled demand for the offering show that the market recognizes the solidity and positive impact of Faro Energy,” he emphasizes.
Since its founding, Faro Energy has generated more than 500 GWh of clean energy and prevented the emission of 150 tons of CO2. Certified as a B Corp since 2016, the company has been recognized with the “Best for the World” seals.
In 2023, Faro Energy raised R$320 million to finance a portfolio of GD (distributed generation) through a CRI (Real Estate Receivables Certificate), becoming the largest operation of its kind in Brazil.
The transaction was the first of its kind to be assessed by Fitch Ratings, which assigned the rating ‘AAA(bra)’. The rating was maintained by the agency in December 2024 with a stable outlook, reinforcing the credit quality of the transaction.
With the new funding, Faro Energy expands its operations in the sector and reinforces its commitment to sustainable solutions for the energy transition in Brazil.
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