Matrix Energia issues Brazil’s first green bond for large-scale battery storage

Matrix Energia Group, which operates in the energy generation and trading markets, has completed its second green debentures issuance, worth BRL $100 million ($17.9 million). The funds raised by Matrix subsidiary Get Comercializadora will be invested in large-scale energy storage systems, in accordance with the Green Issuance Principles of the International Capital Markets Association.

The issuance, with a six-year term, was led by Caixa Econômica Federal. AttestESG, a subsidiary of Exame Ltda., has confirmed Matrix Energia’s bond aligns with the “Guide for Sustainable Bond Offerings” drafted by financial trade body ANBIMA.

Matrix launched its Energy as a Service business unit in late 2023, expanding its portfolio with integrated energy efficiency solutions and energy storage systems. The company claims to lead the Brazilian market for large-capacity, customer-side, “behind-the-meter” energy storage systems and expects to add 224 MWh of storage capacity by 2025.

“This transaction is a significant milestone for Matrix, being the first green issuance in Brazil specifically aimed at battery energy storage and the company’s second green debenture issuance in less than 12 months,” said Matrix Chief Financial Officer Federico Marsano. “The capital markets have been fundamental in supporting our ambitious investment plan, both in BESS and in solar generation assets. Matrix is ​​committed to better serving its diversified portfolio of customers and offering a wide range of solutions that add additional value.”

Marco Buzzo, head of Caixa’s investment bank, said the issuance reinforces the state-owned lender’s commitment to sustainability by financing projects that foster a clean, efficient energy matrix, and to the capital market by encompassing the interests of issuers, investors, and society to contribute to Brazil’s energy transition.

From pv magazine Brasil.