Brazil’s Bloxs expects to triple capital raised for renewable energy investments

Brazil’s Bloxs expects to raise 30mn reais (US$5.8mn) for renewable energy investments in 2023, which would be three times the amount raised so far in 2022, the company’s CEO, Felipe Souto, told BNamericas. 

One of the reasons for the threefold increase is a resolution published earlier this year by the local securities exchange commission (CVM) that increased the maximum amount of funding via crowdfunding from 5mn reais (US$960,000) to 15mn reais. 

The Brazilian group also offers other funding in the energy area, including structuring of instruments such as real estate receivables certificates (CRI) and debentures.

“Therefore, we believe that this [30mn reais] is a possible figure, considering a conservative scenario,” Souto said. 

In late August, Bloxs and the innovation platform Voltxs announced their second equity fundraising, where the investors will be Voltx's partners in the implementation and operation of a PV solar plant in Bahia state with a capacity of 1,225kWp.

With shares starting at 100,000 reais, the new offering has a fundraising target of 3mn reais. 

"With the publication of law 14.300/22, a transition stage was established in which, until January 2023, the plants connected until this deadline will not bear the new expected costs. So this is the chance to invest in the photovoltaic energy sector with still-attractive investment return rates," Matheus Castro, commercial manager of Voltxs, said in a statement.