O CPV Energia Real Estate Fund FII (RENV11) completed the purchase of Yellot SPE II LTDA by R $ million 5,9. According to a press release, the SPE (Special Purpose Company) acquired is the owner of a solar power plant GD (distributed generation) with installed capacity of 1 MW.
The asset, located in Alexânia (GO), is in operation and, upon completion of the deal, any and all revenue generated must be allocated to the fund. The shares of the RENV11 fund became traded in B3 in early August.
The fund has co-management from Armor Capital and CPV Asset, with risk analysis and invested assets carried out jointly by CPV Asset and Armor Energia.
“UFV Alexânia 1 is located in the rural region of the city of the same name, in the interior of Goiás, and is in a privileged location, approximately 100 m from BR-060, the highway that connects Goiânia-GO to Brasília-DF. The project was developed by Yellot, a market leader in the solar energy segment in Goiás and one of the main players in the Central-West region”, highlighted the CPV Asset management team in a note.
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Also according to the statement, the RENV11 was the first FII on the market to focus exclusively on already performing assets and the second to invest in the segment.
“Investing only in renewable energy plants already in operation is the product’s major differentiator, since engineering and grid connection risks are mitigated, compared to assets under construction. The company’s expectation is to reach R$500 million under management and 50 MW in distributed generation in the portfolio by the end of 2025,” the statement said.
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