“We are betting on the trend of increasing hybrid projects”, says Brasol

The year 2024 was a period of strategic advances and significant achievements for Brasol, consolidating its position as one of the main players in the distributed generation and energy transition market in Brazil.

In an interview with Canal Solar, Ciro Fusaro, director of the Solar Unit at Brasol and Rafael Brasiliense, Commercial and Marketing Director, shared the main achievements of the year, including strategic acquisitions, portfolio expansion and new initiatives in technologies such as batteries and substations in the Energy as a Service model.

At the same time, the company faced the challenges of a changing market, especially with new regulations impacting DG (distributed generation). In response, Brasol has adapted its business model and explored new opportunities, such as hybrid projects, energy storage and solutions connected directly to the load.

Check out the interview for the view of Brazil for 2025, the trends that should shape the market and the growth and innovation plans that reinforce its commitment to the energy transition and sustainable development in Brazil.

The year 2024 was full of challenges and opportunities. What were the main milestones that defined the year for Brasol?

Cyrus: The year 2024 was marked by the growth of Brasol as one of the main consolidators of distributed generation solar assets in Brazil. We had two major acquisitions that were notable: the first was acquisition of a BC Energia portfolio and the second one Raízen portfolio.

Rafael: The main challenge for Brasol was to consolidate its vision of being a company that provides solutions for the energy transition. This was achieved through very objective and concrete actions, such as the expansion of our portfolio of distributed generation assets, where we reached 200 MW in operation. 

We also connected the first substation in the As a Service modality in Brazil, with 100% Capex from Brasol and rental for the customer, in addition to signing the contract to start work on the second substation in this modality, this second one to serve the irrigation of a farm in MATOPIBA and positioning ourselves as an important supplier for the energy infrastructure for Agribusiness. 

Finally, we have started operations in our battery business unit. We are already developing and negotiating storage projects for some clients throughout the country and we are very well prepared for the Storage Capacity Reserve Auction that the Federal Government has indicated will take place this year. We now have projects developed for this auction, which is a very well-designed business model.

What business models is Brasol exploring this year?

Cyrus: Aiming at regulatory changes and limitations, Brasol already offers the market other solutions such as substations, battery systems and electric chargers, all in the Energy as a Service model.

Has the shortage at GD 1 impacted the company's strategic plans? How are you responding to this new reality?

Cyrus: In fact, with the trend towards decreasing opportunities in GD0/GD1, we reviewed some strategies and sought to increase the focus on the development of solar generation solutions close to the load (ground, roof and carport) and isolated zero-grid solutions.

What are Brasol's plans regarding mergers and acquisitions (M&A)? Are there any planned moves to further consolidate the company's presence in the market?

Cyrus: We understand that there are still good M&A opportunities in the market, therefore, for 2025 we continue to evaluate acquisition opportunities, both for solar plants and substations, especially for the SLB model – Sale and Leaseback.

This is a model in which a client sells an asset to Brasol, such as a solar plant or a substation, and at the same time leases that same asset back. This model allows Brasol clients to free up capital for new investments without losing the use of the asset (capital recycling). Furthermore, it reduces the need for debt and improves liquidity, being a common strategy to accelerate the expansion of projects.

How does Brasol see the role of large companies in the maturation of the DG market in Brazil?

Cyrus: We are experiencing a moment of transformation in the DG market in Brazil, with an increase in the level of professionalization aimed at the growth and profitability of its operations.

What market trends does the company believe will dictate the direction of distributed generation in 2025?

Cyrus: The market will tell, but we are betting on the trend of increasing hybrid projects, mainly for consumption facilities close to the load, and for companies whose objective is to generate their own renewable energy within their facilities.

Are there any innovative initiatives or projects in Brasol's pipeline that you can share with us?

Cyrus: We have our social initiative here at Brasol, where we seek to meet socio-educational demands or small energy generation for the communities where we operate with some asset in operation. An example of this was the donation of solar panels we made to the Federal Institute of Amapá to be used in the institution's new engineering course.

With the evolution of regulations, what challenges and opportunities does the company foresee for the next year?

Rafael: We see energy storage as a major opportunity in the sector. We are structured for this, with a dedicated team for solutions connected directly to the industry or larger solutions to meet the power needs of the national interconnected system. 

With our agility and the investment capacity of our shareholders, we are convinced that storage will be our next avenue of growth.

How is Brasol integrating new technologies and digital tools to strengthen its service offering?

Rafael: Technology integration is part of our DNA. Today we develop projects that integrate the four main solutions in our portfolio: solar, substations, batteries and charging. 

We are increasingly developing solutions such as a project we are implementing at Globo SP, with solar generation in the carport model (solar panels covering parking spaces) integrated with vehicle chargers. Another interesting project we are developing is a solar plant with a storage system to meet the energy needs of a remote area. 

If you could summarize Brasol's strategic positioning for 2025 in one sentence, what would it be?

We are one of the main investors in infrastructure for the country's energy transition. We will continue to grow in solar generation and in the implementation of substation solutions. In addition, we believe in the battery business and are investing heavily in this business.

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