Vinci Compass announced that it has completed the acquisition of 50% of Faro Energy, a stake previously held by Modern Energy, and that it already has agreements in place to increase its stake to 70% in the coming months, thus assuming control of the company.
The move comes at a time of increased selectivity in the distributed generation (DG) market, and the stated strategy is to use Faro as a platform for future acquisitions and consolidation of the segment.
The transaction involves a Vinci Compass fund focused on climate impact investments, with assets of approximately R$2 billion. The amount paid for the stake was not disclosed. The operation represents the largest investment made to date by the fund.
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Faro Energy enters the market with approximately 200 MW of installed capacity, distributed across about 125 solar power plants in 17 states.
Vinci's strategy is to leverage this existing structure to expand its exposure to distributed generation through new acquisitions, rather than limiting investment to its current portfolio.
Faro operates in the development, investment, and management of solar assets. On its website, the company states its presence in 17 states and 105 operational plants, and highlights a model in which it finances the construction, operation, and maintenance of plants for its clients.
The company also holds B Corp certification and has already surpassed 500 GWh of accumulated generation, according to available data.
The operation, therefore, combines a platform specializing in distributed generation with capital from an investment management firm.
In its second-quarter results announcement, Vinci Compass itself classified Faro as one of the leading Brazilian distributed generation platforms and highlighted its exposure to a contracted portfolio and an expansion pipeline.
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