Matrix Energia has strengthened its position as a leading green company in Brazil’s clean energy transition by rolling-out new large-scale battery energy storage systems across the country.
Matrix Energia recently issued R$100 million in green bonds to fund the installation of 224 MWh of battery energy storage systems (BESS) by 2025.
The landmark bond issuance, the first of its kind in Brazil dedicated solely to BESS, will go a long way to supporting the country’s energy transition by enhancing grid reliability, optimising renewable energy use, and further reducing the dependence on fossil fuels.
In conjunction, Matrix has expanded its existing partnership with Huawei Digital Power to triple its BESS capacity in Brazil to 750 MWh by 2027.
Federico Marsano, CFO of Matrix, explained the company’s financing approach: “The R$ 100 million raised from the green bonds will fund our BESS installations, and we seek to operate with a 70% leverage model. This means that 70% of the capital would ideally come from third-party financing, while 30% we expect to be covered by our own resources.”
The financial structure allows for Matrix to scale its operations efficiently while maintaining a strong balance sheet, with a view to progressing new developments on the horizon.
Marsano also pointed to the ongoing partnership with Huawei, noting its critical role in meeting the growing demand for storage solutions.
Exclusive partnership with Huawei
“All the BESS capacity to be installed in Brazil by Matrix is part of our exclusive partnership with Huawei, established at the start of this project due to their leadership in energy storage, cutting-edge R&D, and long-standing presence in Brazil,” continued Marsano. “Initially, we planned to install 224 MWh in batteries by 2025, as reflected in the green bond issuance. However, due to growing demand from both current and potential clients, we have signed a Memorandum of Understanding (MoU) with Huawei to triple this capacity to approximately 750 MWh by 2027.”
Matrix’s BESS solutions are in demand from a wide array of clients, including large industrial players, high-voltage energy consumers, and companies transitioning to the free energy market.
BESS operates with a behind-the-meter approach, meaning it is installed at the client’s site and directly connected to their internal electrical system.
This setup allows BESS to manage energy independently from the grid, storing power during off-peak hours and discharging it during peak times to optimize energy costs.
Various sectors, including data centers, shopping malls, hospitals, and heavy industries—such as mining, automotive, and food and beverage—have shown interest in these solutions. Energy storage systems provide these businesses with reliable and flexible energy management, helping to reduce costs in a market characterized by volatile energy prices.
Matrix views BESS not only as a solution for end-users, such as C&I consumers, but also for upstream applications, serving as a key solution for renewable energy generators.
In Brazil, curtailment remains a persistent issue, with wind and solar generation frequently producing surplus energy that the grid cannot absorb, leading to significant energy losses. BESS can store this surplus energy and deploy it during peak demand periods, effectively addressing curtailment, improving grid stability, and optimizing cost efficiency in the renewable energy sector.
Matrix currently serves over 1,700 units in the free energy market, with 40% of its client base in the retail segment. Additionally, more than 25,000 low-voltage consumers are benefiting from the company’s distributed generation platform, which underscores its significant role in expanding clean energy access across Brazil.
As Marsano elaborated on the company’s financing plans, he emphasised the importance of additional funding sources: ” The financing for this project will come from a combination of internal capital (equity) and third-party capital. The green bond issuance with CAIXA is one of our financing lines. As the project has grown, we are continuously exploring additional financing options to support the now larger project.”