Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has invested in Brazilian distributed solar power generation operator Origo Energia ("Origo"), acquiring a stake of approximately 17% in the company. There are expectations for large-scale growth in demand for distributed solar power generation in Brazil, leveraging the country's high solar radiation factor across its expansive land mass. Through this investment in Origo, Mitsui will work to contribute to the popularization of renewable energy in Brazil.
Origo is a front runner in the provision of rental solar farms, forming customer consortiums made up of 300 to 500 Brazilian small and medium-sized enterprises including restaurants and supermarkets, and managing the development, construction and operation of distributed solar power generation systems (each up to 5MW) for each of those consortiums. Through this business, Origo has been successful in providing the option of renewable energy procurement to customers who are unable to maintain their own independent solar power generation systems. In 2019 the company received B Corporation certification, an international standard recognizing environmental performance.
Mitsui will work to support the expansion and value growth of Origo's business, leveraging our knowledge and experience in the next-generation power sector, centered on the U.S., as well as the network reached through our existing robust business foundations in Brazil.
In the power and energy sector, we are currently seeing the advancement of 3D mega trends - Decarbonization, Decentralization and Digitalization, and there is growing demand for solar power generation, storage battery and EV charging infrastructure, along with the energy management services which leverage them. Backed by the foundations of its IPP business operating large-scale power plants, Mitsui is working to advance initiatives in the next-generation power business with a view for the 3D mega trends, and contributing to the creation of a society that is friendly to the environment.