EN 
PT_BR 
A Brazil announced, this Friday (27), that the CFP (Climate Finance Partnership), from BlackRock, signed a definitive agreement to purchase a minority shareholding significant in the company.
CFP will join existing investor SFS (Siemens Financial Services), Siemens' equity investment and financing arm, as a partner in the venture. The transaction is the fund's first investment in Latin America.
“We are delighted to welcome the Climate Finance Partnership as an investor in Brasol,” said Ty Eldridge, CEO of Brasol. “This investment proves that addressing the energy transition in developing markets is affordable and financially attractive for institutional investors.”
“We believe that the CFP contribution is also a call to action for other institutions to mobilize their resources to support the energy transition in the most precious environments in the world”, added the executive.
Anmay Dittman, Director and Portfolio Manager at the Climate Finance Partnership, highlighted that, as one of the fastest growing markets for solar energy and having one of the most important ecosystems in the world, Brazil presents enormous potential for CFP, both in terms potential for economic growth and creation of investment value, as well as the environmental and climate impacts that can be achieved.
“Brasol stands out as a leading solar developer in C&I (Commercial and Industrial), with a portfolio in most regions of the country and ambitions to expand into other energy transition sectors”, he highlighted.
“Brazil is positioned to be a global leader in the transition to a low-carbon economy. We are pleased that BlackRock, through the Climate Finance Partnership and on behalf of its clients, is investing in businesses that seek to drive transition in the region,” said Karina Saade, president of BlackRock in Brazil.
Starting in 2020, SFS made the first of several subsequent capital contributions to Brasol. Since then, the company has collaborated with Siemens to provide corporate customers with energy transition infrastructure in an “as a service” business model.
“We are excited to have BlackRock partner with us for this high-growth phase of Brasol,” said Steffen Grosse, CEO of Equity Finance at SFS. “The investments from SFS and the Climate Finance Partnership underscore our commitment to providing world-class energy transition infrastructure solutions in the Americas,” he explained.
The transaction is subject to customary closing conditions and is expected to close by the fourth quarter of this year. The company was advised by XP Investimentos and Pinheiro Neto Advogados in the operation, while SFS was advised by White & Case and Lobo de Rizzo Advogados and CFP was advised by Clifford Chance and Cescon Barrieu Advogados. The other shareholders were advised by Barbosa, Müssnich e Aragão Advogados and Apollon Law Group.
About the CFP
BlackRock's CFP (Climate Finance Partnership) is a reference vehicle in public-private financing that seeks to accelerate the flow of capital for climate infrastructure in emerging markets.
About Brazil
Brasol provides energy transition infrastructure – including renewable energy, substations and electric mobility equipment – to Brazilian customers through long-term lease contracts. The company emphasized that it pioneered the use of asset-backed securities to finance distributed solar energy projects throughout Brazil.
