Casaforte raising R$270m for solar-power investments

Private-equity firm Casaforte is raising R$100 million from investors in an infrastructure equity fund and borrowing R$170 million from development lender Bank of the Northeast (BNB) to build solar-power farms in the Northeast region and Minas Gerais state. The Pernambuco-based firm plans to build 12 solar farms generating 5 megawatts each for rental by large power consumers. It already signed up a telecommunications company for a 15-year contract. “We are in the closing stages of other contracts with retail chains, supermarkets and drugstores,” founding partner and manager Fernando Burque said. The four-to-five-year infrastructure fund, called Solar 1, has already raised R$70 million. The plan is to start selling the solar farms to other investors already with the assured revenue stream of rentals.


Source: Valor Econômico