Deal represents Generate’s debut transaction in Latin America as the sustainable infrastructure company grows its global footprint

Conasa Infraestrutura S.A., an owner and operator of concessions in water, wastewater sanitation, highway and public lighting across Brazil, today announced that it has closed a transaction raising significant equity capital from Generate Capital, a leading sustainable infrastructure company which owns and operates more than 2,000 assets across North America.

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A Conasa sanitation project in the City of Itapema, Brazil on the coast of Santa Catarina. (Photo: Business Wire)

The transaction will provide Conasa with additional growth capital to accelerate the deployment of essential public services and sustainable infrastructure resources across Brazil. Conasa’s projects today serve 1,395,000 inhabitants in water and sanitation, operating 1.520 km (944 miles) of toll roads and 283,000 public lighting points, reaching 3.3 million inhabitants. Conasa has issued $R 403 million ($71.4 million) of new shares to Generate as part of the deal, and Generate will co-control the company with the founders.

“We’re happy to announce this transaction and partner with a leader in sustainable infrastructure like Generate,” said Mario Vieira Marcondes Neto, chief executive officer of Conasa. “Generate shares our vision of developing infrastructure that meets the needs of our customers, communities and the country, and will be a valued partner as we continue our rapid growth with responsible and sustainable projects across Brazil.”

Since its founding in 2007, Conasa has grown principally in the sanitation sector where Brazil requires $R 753 billion ($132 billion) of investment by 2033 to reach the country’s universal sanitation services goals across its population. Conasa is also growing its operations in infrastructure around energy, toll roads and lighting assets across Brazil, offering improvements that increase equitable access to resources. The company has more than 550 employees that provide operations and maintenance support for its assets. Conasa received the required approvals from its board, bondholders and shareholders to complete the transaction.

For Generate, the transaction represents an expansion of its portfolio of more than $2 billion in sustainable infrastructure assets in the Americas into the Brazilian private infrastructure market.

“Generate is excited about Conasa’s substantial growth in Brazil and the opportunity to partner with a proven infrastructure leader,” said David Perl, managing director at Generate. “This investment aligns with Generate’s vision of working across sectors and geographies to rebuild the world and enable broad participation in the benefits of the infrastructure transition. We look forward to partnering with the team at Conasa to continue building affordable, reliable and sustainable infrastructure across South America’s largest market.”

Generate builds, owns, operates and finances sustainable infrastructure that delivers affordable and reliable resource solutions for companies, governments and communities across North America. Since 2014, Generate has partnered with more than 40 leading technology and project developers to build assets across the energy, waste, water and transport markets. Generate serves the critical needs of over 2,000 customers, including companies, universities, school districts, cities and non-profits. The company announced last year that it had raised $2 billion from global institutional investors to expand its operations.

About Conasa

Conasa Infraestrutura, S.A. is an infrastructure holding company, focused on long term concessions, currently working in the sectors of sanitation, toll roads and lighting, especially for mid-sized concessions in Brazil. In sanitation, Conasa serves 1,395,000 inhabitants across 37 municipalities where it has substantially increased sewage treatment coverage where it was previously unavailable. Conasa manages 1.520 km (944 miles) of toll roads and manages 283,000 public lighting points for 3.3 million inhabitants in Brazil. For more information, please visit www.conasa.com

About Generate

Generate Capital, PBC is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation. Founded in 2014, Generate partners with over 40 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 2,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.

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