Exagon Impact Capital has announced the acquisition of a controlling stake in SunRoof, a renewable energy company with operations in Mexico and Chile.
This is the second portfolio company acquisition for Exagon’s inaugural fund, Exagon Latin America Fund I (XLA I).
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The investment by XLA I will support SunRoof’s expansion efforts within Mexico, focusing on accelerating distributed generation solar adoption within the commercial and industrial sectors.
By integrating SunRoof into its portfolio, Exagon strengthens its foothold in advancing renewable energy initiatives throughout Latin America and the Caribbean.
Exagon Impact Capital co-founder and managing partner George Osorio stated: “What sets SunRoof apart is its distinctive and forward-thinking approach that is evident in everything they do – from securing US dollar PPAs [power purchase agreements] that eliminate currency risk, to gaining a competitive edge with their innovative solar panel cleaning technology.”
Established in 2016, SunRoof provides customised clean energy solutions to commercial and industrial clients across Latin America.
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By GlobalDataThe company’s build-and-hold platform has earned it a reputation as a trusted partner in corporate sustainability among blue-chip clients.
It is well-positioned to meet growing demand from global brands prioritising sustainability through long-term PPAs.
SunRoof founder and CEO Francisco Martin stated: “We’ve developed a strong relationship with the Exagon team over time, and we’re honoured by their trust in our vision.
“We are thrilled to begin this new chapter and see the SunRoof team grow with Exagon’s support. This partnership enables us to accelerate our expansion in Mexico while continuing to deliver impactful, high-quality renewable energy solutions across the region.”
SunRoof has patented autonomous solar panel cleaning technology that reduces water usage while maximising energy yield. Exagon co-founder and managing partner Marc Frishman stated: “We are confident that SunRoof’s exceptional team and differentiated business model will deliver strong, long-term value to our portfolio.”
