AXS Energia Receives $65M Investment from AZ Quest

AXS Energia, a fast-growing renewable energy company under the Roca Group, has secured a major AXS Energia investment of $65 million from AZ Quest Investimentos. This solar-focused energy investment will be used to repay corporate bonds, fund working capital, and accelerate expansion in distributed solar generation.

This AXS Energia investment arrives at a critical moment for Brazil’s clean energy transition. The country is experiencing regulatory shifts, and access to capital has become more selective. Despite these challenges, investor appetite for distributed generation remains strong—especially when backed by robust financial structuring and operational scale.

AXS Energia Investment to Drive Solar Growth

The capital injection supports AXS Energia’s previously announced BRL 1.8 billion investment plan through 2027, which includes doubling its distributed generation capacity and developing its first centralized solar plant in Minas Gerais.

This distributed generation investment reflects investor confidence in scalable clean energy platforms and is expected to serve as a catalyst for other mid-sized players in the renewable energy ecosystem. According to the company, the AXS Energia investment will also enhance financial resilience in the face of fluctuating equipment costs and grid access constraints.

Battery Storage and Renewable Expansion

Beyond solar generation, the AXS Energia investment will help position the company as a competitive player in Brazil’s emerging battery storage market. AXS plans to bid in the country’s first dedicated storage auction with four 200 MWh projects across the Southeast and Center-West. These will offer 50 MWh of energy over four hours daily, improving national grid stability.

The company forecasts revenue of BRL 120 million in 2025, up from BRL 45 million in 2024, and expects to reach BRL 250 million in 2026. The strong financials underpin the appeal of this solar investment, which combines current performance with long-term infrastructure value.

AXS Energia has already developed more than 4 GW in renewable energy projects, further reinforcing the strategic importance of this latest AXS Energia investment.

“We expect to energize our centralized plant by the second half of 2027. Our licenses are advancing, and we’re just waiting on the substation expansion,” said Rodolfo de Sousa Pinto, CEO of AXS Energia.

The Firms Behind the Deal

Legal Advisors Behind the AXS Energia Investment Deal

This structured AXS Energia investment transaction involved a securitized debenture backed by a convertible debenture, alongside an investment agreement and shareholders’ agreement. The investment will ultimately convert into equity in AXS Participações.

Two of Brazil’s most prominent law firms advised on the transaction:

• Machado Meyer Advogados advised the investors (AZ Quest), with partners Paulo Markossian Nunes and Raphael Zono, and associates Bruno Henrique Navas de Carvalho and Henrique de Farias Sariedine.
• Pinheiro Neto Advogados represented the sellers, relying on partners José Roberto Oliva Júnior and Luiz Felipe Fleury Vaz Guimarães, associates Felipe Tucunduva Heemstede, Fernando Bammann and João Vitor Leitão de Godoy.

Conclusion

This deal signals growing investor confidence in Brazil’s renewable energy market—and showcases the legal and financial complexity behind scaling distributed power solutions with two of Brazil’s most acclaimed law firms structuring the deal .

Resumo em português:
A AXS Energia recebeu um investimento de US$ 65 milhões liderado pela AZ Quest para acelerar o setor de energia renovável no Brasil.