Energea always has a lot in the works from acquisitions of existing projects, to development of new ones, to energy based loans, and launching of entirely new portfolios. With each having their own timeline, which can change due to schedule delays, offers being negotiated further, waiting on third-party approvals, etc, we’ll use a monthly post to stay organized and as current as we can.
Brazil
Acquisitions:
New this month, the addition of 13MW in Goias in February. Will keep an eye open for these to show up in the portfolio online, number of projects involved unknown.
Nothing new reported about projects in Minas Gerais – Purchase of 13 MW of projects (# unknown). The company recently signed a non binding offer for approximately 13 MW of fully subscribed solar projects in Minas Gerais. Our objective is to acquire these assets in the first half of the year while completing subscription of the existing operating portfolio by June 30. (January 2026 Performance Report)
Development:
Nothing new reported since February – 10 more Micros Projects (2025 Q4 Webinar Mike)
Delays:
Divinopolis III interconnection energizing rescheduled to this month (March).
Divinopolis III interconnection to be fixed February 20, 2026 (Brazil November 2025 Performance Report)
Thoughts:
There was emphasis placed on subscriber numbers this month. We believe the subscribers will come, so we are more interested in resolutions in theft, repair, and additional acquisitions at this stage.
We are happy to hear that the security company involved with the site that experienced the theft incident will be liable and we’ll receive compensation (unknown). Will continue contributions as a result of this safe guard and will follow-up with Energea to inquire if they have or plan to do a security audit for their portfolios and the projects within.
Pause new contributions until 1 month of no theft incidents.
Africa
Acquisitions:
Nothing new to report – Hooray Project Acquisition #2. We are currently conducting due diligence on our second acquisition from Hooray Power. (January 2026 Performance Report)
Development:
Nothing new to report – Eastern Cape Battery Project. Meanwhile, progress continued on a battery storage project in the Eastern Cape (January 2026 Performance Report)
Loans:
The news of obtaining a controlling interest in Bonsmara makes sense. We don’t know Hector global, but we know Energea. Energea has proven to be very capable underwriters, builders, and managers of projects. Having this type of oversite in a “utility” sized project generates greater confidence than simply providing a loan. We’re currently in negotiations with HGR to convert the majority of our corporate loan into a controlling interest in the Bonsmara project (March Performance Report).
We anticipate that HGR will request a sizable draw in February to fund an Eskom security bond required for interconnection at Bonsmara. Extending additional credit to this borrower is expected to increase the annualized dividend yield in the coming months. (January 2026 Performance Report)
HGR remains current with loan repayments (2025 Q4 Webinar)
Thoughts:
This is a lot of change for Energea to manage. All of it sounds great, but we want to see how it unfolds more, so we are pausing new contributions (dividends will continue to be reinvested).
USA
Acquisitions:
A verbal agreement has been made for the acquisition of 15MW through 2 projects in Maine. (March Performance Report)
Purchase of 18 MW of projects; 7 MW, 8 MW, 3 MW. We have submitted offers to acquire three new projects, including 7 MW operational, 8 MW operational, and 3 MW in development. If these offers are accepted, we expect to announce the acquisitions in February. (2026 January Performance Report)
Development:
Iron Spur Texas construction has begun and it will be a 140MW project. (March Performance Report)
Iron Spur Texas 100+ MW in planning stage. Progress continues on the Iron Spur project as we develop a plan to safe harbor the project, which will preserve its eligibility for the 30% tax credit through 2030 (2026 January Performance Report)
Thoughts:
Theft incidents seem to be resolved, with a night guard positioned at Fresno now. Will continue new contributions.
LATAM
Nice to see LATAM Energy official launched and funding over $2M so far.
Thoughts:
We are prioritizing investments to this portfolio.