Description

This is our second campaign for ReCap Solar Brazil. The 30.000€ raised in this campaign will be used to refinance two photovoltaic systems under development which were first financed by Recaps’ own equity.

The first campaign was meant to finance two solar energy projects: one for the first phase of the Multi Shopping facility and one for a football field. Due to a change in the presidency of the football club, the project did not proceed, and the funds were used for phase 2 of the Multi Shopping facility.

This campaign will finance solar energy systems for a movie theater and a restaurant: 

These two projects are located within Multi Open Shopping, in beautiful Florianópolis, a city in the south of Brazil. This commercial complex was inaugurated in 2018 and has over 30 stores and restaurants and 155 office rooms.

Sustainability is one of the founding principles of Multi Open Shopping, visible in projects such as:

• Own sewage treatment plant
• Rainwater collecting system for cleaning, irrigation, and toilets.
• Plastic waste avoidance
• And the Movement MULTI Mercado Verde, a market that promotes a sustainable economy, responsible consumption, and production patterns.

Multi Open Shopping

The Impact

This campaign will fund the installation of photovoltaic plants in two businesses in the Multi Open Shopping, in Florianópolis, Brazil.

Direct environmental impact:

• Contribution to the decarbonization in Brazil, avoiding CO2 emission: The whole operation is estimated to produce 38,324 kWh of clean and renewable energy per year, avoiding the emission of 15,32 tons of CO2 annually, the equivalent to planting 696 trees.
• Cost reduction for the final clients: the decentralised energy production through renewable sources, close to the consumption site, helps to avoid distribution costs, making this a more competitive option than reverting to the national grid. Furthermore, the decreased dependency of the company on the national grid, makes it less vulnerable to price fluctuations and fiscal charges. It is estimated by Recap that the energy costs are reduced by 17% for the clients of these projects.
• Support reduction of energy consumption: through providing services for improvements in energy efficiency use, Recap allows the companies to operate in a more efficient way. The photovoltaic systems are expected to supply around 80% of the client’s energy needs

 

Indirect Impact

• Promotion of solar decentralized energy: with its Solar Funds, Recap enables smaller organizations of many different sectors the possibility to transition to renewable energy sources. Through decentralized photovoltaic systems, the organizations are less dependent on the national grid and improve the country’s clean energy consumption participation.
• Support local companies: Recap partners with Brazilian installers, providing them a financial option to clients interested in installing the solar plants. They ensure the companies are aligned with Recap’s values and apply screening criteria for the potential clients. After this, Recap makes its own financial and credit analysis.

Impact Indicators

15,3 t

CO2 avoided per year

38,3

MWh clean energy

Contribution to the Sustainable
Development Goals

Sustainable Development Goals

Financial viability

Long-term PPA (power purchase agreement) contracts will be signed between the promoter (Recap Solar Fund AB III) and the end-clients (Multi Cine and Costelaria). 

The contract offered by Recap Solar Fund III AB will allow the client to save an average of 17% compared to the client’s retail price, for the energy that can be supplied from the solar system, after the installation of the panels. 

After an established period (8 to 18 years), the panels will become the property of the client. In exchange for the benefits provided by the solar PV system, the client pays Recap Solar Fund III AB a monthly fee throughout the contract term. 

The fee is based on the prices charged by the local utility, over which the client is granted a fixed discount. In this sense, the client will always have a benefit from using the energy from the PV system. The energy that cannot be supplied by the PV system is bought from the grid. 

The fees paid by the client allow Recap to pay back its investors and cover the operations required for the development and management of the project.  

Download Key Investment Information Sheet

The Promoter

About Recap Solar Fund III AB

The Recap Solar Fund III is part of Recap Energy AB, an organization founded in 2010 with the mission to provide flexible, customized, and fully financed clean energy solutions to C&I clients.

Since 2016, Recap has been focused on providing solar-based Energy as a Service (EaaS). The company has its headquarters in Stockholm, Sweden, and subsidiaries in Spain (which also serves the Portuguese market), Colombia, Brazil, and India.

Recap has three main business lines:

- C&I – Rooftop Solar: specialized in solar projects for self-consumption.

- Energy storage with batteries (Battery-as-a-Service): providing a series of benefits for C&I clients, such as peak-shaving, increased available capacity, resilience, and UPS and grid services.

- Development of ground-mounted solar PV installations: and providing corporate PPAs to C&I clients.

The company currently has 40 full-time employees. 

Recap has 297 MW developed or under development in rooftop and ground-mounted solar PVs and has recently signed a pioneer energy storage contract for 3,3 MW.

The team

Felipe Borschiver

Country Manager Brazil

Felipe Borschiver is Recap's Country Manager for Brazil, based in Rio de Janeiro, where he manages the development of Recap's national energy portfolio. His experience lies in structured finance, distributed energy, and land-use projects. Before joining Recap, Felipe worked for IP Capital Partners and founded/managed Archipelago Partners, both asset management companies focused on long-term equity investments in Brazil. He has extensive experience in financial analysis and assessment of governance and incentive frameworks and structuring financial products. Felipe holds an Economics degree from the University of Rio de Janeiro and a master in Sustainable Finance from the COPPEAD School of Management (UFRJ).

Marco Berggren

Founder & CEO

More than 17 years of experience implementing and financing clean energy projects globally. Responsible for market strategy execution, partnerships and product development.

Eduardo Rechden

COO

Eduardo holds a Master in Environmental Management and Policy, from Lunds Universitet and a Master in Environmental Management, from Universidad de Sevilla. He is specialized in Solar and renewable energy, CSR and Stakeholder assessments, waste management and urban environmental management.

Business Model

Updates