Brazilian electricity company Matrix Energia has completed Brazil’s first green debentures issuance worth $100m Brazilian reais ($17.9m) to build 224 megawatt-hours (MWh) of battery energy storage capacity by 2025.
This is the first green issuance for a battery energy storage system (BESS) project in Brazil and the second for a renewable project by Matrix Energia.
Caixa Econômica Federal led the issuance, set over a six-year period. The funding was raised by Matrix Energia’s subsidiary Get Comercializadora.
Federico Marsano, chief financial officer of Matrix Energia, explained that securing the bond was a “significant milestone” for Brazil, making history as the first green issuance specifically catered for a BESS.
He added that the “capital markets have been fundamental in supporting our ambitious investment plan, both in BESS and in solar generation assets”.
Matrix Energia’s investment in the BESS projects must meet the rules highlighted in the Green Issuance Principles of the International Capital Markets Association.
Brazilian certification service Attest ESG confirmed that the company’s green bond is in order with the Guide for Sustainable Bond Offerings set by ANBIMA, the country’s financial trade body.
Matrix Energia claims to be the market leader for large-scale, community focused energy storage systems. The company has launched a ‘energy as a service’ business to expand its portfolio of energy storage and other integrated energy-efficient solutions.
The company’s plans to install more BESS, which is set to double Brazil’s current capacity. Lithium Valley, a provider of energy storage systems, reported that total BESS capacity was 250MWh in 2023, with most of the technology deployed in rural areas.
