I Squared Capital has agreed to invest up to $400 million for a 49 percent ownership stake in Órigo Energia, a company specializing in distributed energy-generation in Brazil.
The investment in Órigo will fund the construction of more than 2 gigawatts of distributed solar-generation projects in 20 states across Brazil, with an estimated capital expenditure of R$6 billion ($1.2 billion). This marks I Squared’s first direct investment in Brazil since it opened its São Paulo office in December 2023 — I Squared’s first office in South America. I Squared said the office opening positions the firm to capitalize on the growing infrastructure investment opportunity in Brazil and advances its global-expansion strategy.
With more than 100,000 customers and 300 megawatts peak of distributed generation assets in operations across Minas Gerais, Pernambuco, Ceará, Mato Grosso do Sul, Distrito Federal and São Paulo, Órigo Energia is the largest distributed generation busi