Thopen, the Pontal Energy arm dedicated to the Free Energy Market and distributed generation (DG), announced two new fundraisings through incentivized debentures, totaling R$293 million. The investments will finance 32 clean energy projects in different regions of the country.
The largest transaction, valued at R$200 million, was structured by XP Investimentos and will enable the implementation of 21 plants in the states of Goiás, Bahia, Rio Grande do Norte, Mato Grosso do Sul, and Pernambuco. More than 80% of these projects are expected to come online by 2025; the remainder by the first half of 2026. Together, they total 58,1 MWp of installed capacity.
The second round of funding, worth R$93 million, was funded by Kinea and will be invested in 11 projects across Paraná, São Paulo, Maranhão, Bahia, and Goiás. The plants will have a total installed capacity of 30,5 MWp, with an estimated capex of R$127,5 million, including all asset development.
This isn't the first partnership between Thopen and Kinea. In April of this year, the companies had already structured a R$90 million funding round for other renewable projects in the states of Mato Grosso, Mato Grosso do Sul, São Paulo, Espírito Santo, Paraná, and Ceará.
In 2025 alone, Thopen has already invested more than R$1,7 billion in initiatives aimed at creating a migration platform for the free market and acquiring renewable generation projects.
The company currently manages approximately 250 consumer units and aims to reach 1 million customers in the coming years. The strategic plan foresees total investments of R$2,3 billion by 2027.
Together, Thopen and Pontal Energy already operate 608 MW in centralized generation and hold a greenfield portfolio with more than 1 GW in projects under development.
In distributed generation, the platform currently has 240 MWp in operation and new plants under construction that should increase this capacity to 500 MWp. The goal is to reach approximately 800 MWp in DG by the end of 2026, through its own projects and third-party acquisitions.
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