Raízen completes Gera Energia transaction to form JV RaízenGera
Brazilian integrated sugarcane ethanol, sugar, and bioenergy major Raízen S.A. has announced that it, together with its subsidiary Raízen Energia S.A., has completed the acquisition of renewable energy generation assets and formed a joint venture (JV RaízenGera) with compatriot Gera Energia e Gestão Ltda (Gera Group), a renewable energy provider and project developer.
Gera Group operates in the Brazilian renewable energy sector and is present in 14 States, investing in renewable power production projects for large companies and managing energy and utilities for large domestic consumers.
Announced in October 2021, the agreement with Gera Group includes the following operations:
- Distributed generation renewable power plants – currently 15 plants (solar, hydro, and biogas) in four States – São Paulo, Rio de Janeiro, Paraíba, and Pernambuco – with a total installed capacity of 23 MWe;
- Development of additional distributed renewable energy projects;
- Development of technology solutions related to the trade, management, and consumption of electricity, and efficiency-focused development and innovation for consumers.
With this operation, Raízen will control the distributed generation and development segments, while Gera Group will maintain the control of solutions.
According to Raízen, the joint venture (JV RaízenGera) will complement its renewable products and services platform, reinforcing its leadership position in the transition and decarbonizing of the world’s energy matrix by expanding the offering of cleaner, renewable and sustainable energy.