ReCap Solar Brazil

Two solar power plants for self-consumption in Brazil.

Investment overview

Impact category

Sustainable energy

Investment type

Loan

Yearly interest

5.8

Term

months

Risk level

B-

The goal of this campaign is to finance two solar photovoltaic projects in the Brazilian states of Rio de Janeiro and Santa Catarina.

The project promoter is the ReCap Group, an organisation with over 10 years of experience in renewable energy and energy efficiency projects.

Here are some of the main features of the projects:

Multi Open Shopping

Multi Open Shopping is located 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.

Since its creation, sustainability has always been an important aspect of Multi Open Shopping. This reflects in initiatives such as its own sewage treatment plant; a system to collect rainwater which is then used for cleaning, irrigation, and toilets; Plastic usage avoidance (for example, by not offering plastic straws or cups); and the development of the Movement MULTI Mercado Verde, which promotes a sustainable economy, strengthening responsible consumption and production.

The solar PV plant installation was completed this April and is just awaiting the approval for grid connection, which has been delayed due to COVID-19, but shall happen very soon. The PV plant has the following technical characteristics:

Installed capacity: 26,25 kWp
Estimated annual production: 32.772 kWh per year
Annual CO2 reduction forecast: 13,11 tons per year (approximately the emissions of a passenger gasoline car when travelling 97.111 km)

The shopping mall project will be re-financed with this campaign. The capital that ReCap has invested in the project will be used for further expansion in the Brazilian market.

Americano Futebol Clube – Brazil

Americano Futebol Clube is a nonprofit organisation based in Campos de Guaytacazes, a city in the state of Rio de Janeiro, Brazil. Founded in 1914, Americano is more than just a football club for its surrounding community. Besides football, the club has facilities for practicing other Olympic and Paralympic sports, as well as being a promoter of social, educational, and cultural activities. After their old stadium was demolished in 2014, a new one is being built which will have capacity for around eleven thousand people. The new stadium will be located next to its current training centre where the solar PV plant will be installed. The system will have the following technical characteristics:

Installed capacity: 29,92 kWp
Estimated annual production: 42.308 kWh per year
Annual CO2 reduction forecast: 16,92 tons per year (approximately the emissions of a passenger gasoline car when traveling 125.333 km)

The plant will be built as soon as the campaign is over and the funds are released.

What is the impact?

Direct:

The two projects have a direct impact on CO2 reduction. By producing 75.080 KWh a year, they will avoid the emission of 30 tons of CO2 per year, the equivalent to planting 1.364 trees and to the annual consumption of 20 European households. Besides this, both companies will lower their electricity costs.

There are also some indirect impacts worth mentioning – the two projects will raise awareness on the use of renewable energy once both facilities receive a significant number of people a year.

Impact indicators
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30000

CO2 avoided per year

75000

KWh

clean energy

Contribution to the Sustainable Development Goals
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About 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.

Promoter website

https://www.recapenergy.com/

Team
‍

[{"id":38,"promoter_id":174,"name":"Felipe Borschiver","description":"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.\r\n\r\nBefore 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).","link":"https://www.linkedin.com/in/felipe-borschiver-9664b97/","role":"Country Manager Brazil","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/636/3be/2d8/6363be2d81343123215625.jpg","avatar_id":69549},{"id":39,"promoter_id":174,"name":"Marco Berggren","description":"More than 17 years of experience implementing and financing clean energy projects globally. Responsible for market strategy execution, partnerships and product development.","link":"https://www.linkedin.com/in/marco-berggren-1797784/","role":"Founder & CEO","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/636/3be/f6f/6363bef6f2d34142539431.jpg","avatar_id":69551},{"id":40,"promoter_id":174,"name":"Eduardo Rechden","description":"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.","link":"https://www.linkedin.com/in/eduardo-rechden/","role":"COO","member_photo":"https://991934249232-prod-octobercms-public-storage.s3.eu-west-1.amazonaws.com/public/636/3c0/8ae/6363c08ae7cd9388721147.jpg","avatar_id":69552}]

Business Model
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