Suno's clean-energy fund raises $185M for solar assets

What's the deal? Suno AssetDealroom has a profile for this one. Try Dealroom →'s real estate fund Suno Energias Limpas (SNEL11)Dealroom has a profile for this one. Try Dealroom → raised more than R$1 billion in its fifth share issuance, the firm said on Thursday. The proceeds will mainly fund purchases of distributed solar generation plants already in operation.

By the numbers: The offering pushes the fund's net worth to nearly R$2 billion. SNEL11 counts more than 125,000 shareholders.

What's the endgame? SNEL11 is the largest listed vehicle in its segment. The new capital lets it expand a portfolio of operating solar assets rather than developing projects from scratch.

The signal: Brazilian real estate funds are increasingly channelling retail capital into renewable energy infrastructure, giving thousands of small investors exposure to a sector that once required deep-pocketed backers.

Read more: valor.globo.com

Image credit: Daquella manera