Faro Energy
Faro Energy is a Brazil-based distributed solar developer that finances, builds, and operates photovoltaic plants for commercial and industrial clients under a zero-upfront-cost rental model, serving telecom, retail, and sanitation enterprises across 17 Brazilian states.
- Company typePrivate
- Founded2016
- HeadquartersSão Paulo, Brazil
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Faro Energy does
Faro Energy is a Brazilian distributed solar energy developer and operator that finances, constructs, and manages photovoltaic power plants on behalf of commercial and industrial clients under a zero-upfront-cost rental model. Founded in 2016 (originally in London) and headquartered in São Paulo, the company operates under Brazil's autoconsumo remoto / net metering framework, generating electricity at remote solar facilities and distributing energy credits across clients' multiple consumer units. As of 2024, Faro runs 105 plants across 17 Brazilian states, has exceeded 500 GWh of cumulative generation, and is targeting 271 MWp under management with R$650M+ in deployed project capital. The company was acquired by Durham, NC-based Modern Energy in early 2020 and operates as its Brazilian distributed-generation subsidiary.
Faro's technology stack centers on a proprietary remote monitoring and control platform featuring module-level I-V curve intelligent diagnostics, RAM (Reliability, Availability, Maintainability) analytics with MTBF/MTTR indicators, and thermographic inspections for predictive maintenance. The platform is augmented by a strategic partnership with Huawei Digital Power for smart PV string inverters and by Faro's own Gestão de Billing software for managing energy credit compensation across distributed consumer units. On the customer side, the company serves large enterprise clients in high-capillarity verticals — primarily telecommunications (Oi, TIM powering 970+ antenna sites) and retail (C&A, Lojas Americanas across ~80+ stores) — and is expanding into sanitation and drugstore chains.
The business model is asset-heavy and subscription-like: Faro absorbs full CAPEX and OPEX for plant construction, operation, and maintenance, and recovers investment by selling energy credits at a discount of up to 40% versus conventional utility tariffs under long-term agreements (typically 10 years with extension options). Capital is sourced through a mix of green and social bond issuance (Brazil's first sustainable bond, CBI-certified, in 2020), non-recourse project finance (Santander R$105.8M for 22 plants), and institutional equity through parent Modern Energy (R$320M total). The model targets enterprises that lack the capital or operational bandwidth to deploy solar themselves but face material energy cost exposure and ESG commitments.
Faro Energy firmographics
Firmographics- Name
- Faro Energy
- Legal name
- Faro Energy
- Website
- https://faroenergy.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Faro Energy is a Brazil-based distributed solar developer that finances, builds, and operates photovoltaic plants for commercial and industrial clients under a zero-upfront-cost rental model, serving telecom, retail, and sanitation enterprises across 17 Brazilian states.
- Ownership category
- akta.pro rank
Faro Energy industry classification
Industry- Product category
- Distributed Solar Energy Services
- NAICS
- Electric Power Generation (22111), Solar Electric Power Generation (221114)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB)
- akta.pro secondary industries
- Operations Control & Dispatch (Remote Operations Centers, Curtailment, Compliance) (EUAMAGAK), Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH)
Keywords
Where Faro Energy is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices2 records
Markets served
Faro Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Solar Plant Rental/Lease Model: Faro constructs, operates, and maintains solar plants at no upfront cost to clients. Energy is injected into the distribution grid, generating credits that are distributed to clients' consumer units. Clients pay for energy credits at reduced rates compared to conventional utility tariffs, with discounts up to 40%.
- Energy Credit Trading (Autoconsumo Remoto): Based on Net Metering model where energy generated is injected into the local grid and credits are applied to client accounts. Credits can be used within 60 months.
- Green/Sustainable Bond Financing: Company raises capital through issuance of green bonds certified by Climate Bond Initiative, using proceeds to finance solar project development and construction.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Zero upfront investment model with energy cost savings |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels6 records
Faro Energy product offering
Product offeringCore offering
Faro Energy develops, finances, builds, and operates distributed solar photovoltaic power plants in Brazil on behalf of commercial and industrial clients under a zero-upfront-investment rental/lease model. Energy generated at Faro-owned plants is injected into the local distribution grid and converted into energy credits that are allocated to clients' consumer units through Brazil's net metering (autoconsumo remoto) framework, with clients paying discounted rates of up to 40% versus conventional utility tariffs. Faro also provides full operation and maintenance (O&M) services supported by proprietary remote monitoring and analytics.
Product overview
Faro Energy operates as a solar energy development and asset management company offering a comprehensive suite of products and services. The core offering consists of solar power plants (usinas solares) that the company develops, builds, and manages on behalf of clients with zero upfront investment. This is complemented by Operation and Maintenance (O&M) services that include predictive maintenance, thermographic inspections, and remote monitoring. The business model is based on Remote Self-Consumption (Autoconsumo Remoto) and Distributed Generation (Geração Distribuída), where energy is generated at remote solar facilities and credits are distributed to clients' consumer units through the grid.
Differentiator
Problem solved
Functional benefit
Products and services
- Solar Power Plants (Usinas Solares) Development, construction, financing, and management of photovoltaic solar power plants for distributed generation, providing clean energy to commercial and industrial clients with no upfront investment required from the client.
- Operation and Maintenance (O&M) Services Comprehensive operation and maintenance services for solar power plants including 24/7 performance monitoring, predictive maintenance, thermographic inspections, and remote supervision to maximize availability and reliability of distributed generation assets.
- Remote Self-Consumption (Autoconsumo Remoto) Service Subscription-based energy service where solar plants generate electricity at remote locations and credits are allocated to client consumer units through the local distribution grid under Brazil's net metering framework, usable for up to 60 months.
- Distributed Generation (Geração Distribuída) Service Service enabling businesses to receive energy credits from remote solar plants without investing in on-site generation infrastructure, allowing customers to consume credits at multiple consumer units across Brazilian states.
Quantifiable outcome
- Up to 40% cost reduction on energy expenses compared to conventional utility tariffs
- +4 more outcomes
Companies that use Faro Energy
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
Faro Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Faro Energy partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered flagship, core and minor.
- OiflagshipDevelopment of 5 new solar plants in Ceará, Mato Grosso do Sul, Pernambuco, and Tocantins. R$33 million investment, 6.9 MWp capacity, 15 GWh/year. Combined with existing plants totals over 17 MWp dedicated to Oi.
- Huawei Digital PowercorePartnership for smart PV solutions including string inverters and I-V curve diagnostic software for remote module monitoring. Combined agreements total 1GW of clean energy commitment, with 100MW focused on distributed generation through HDT Energy.
- HDT EnergycorePartnership for commercialization of intelligent distributed generation solutions using Huawei technology. MOU for up to 100MW focused on string inverters and I-V diagnostic software with post-sale services.
- TIMflagshipExpansion of distributed solar generation partnership to 15 solar plants across 6 states. 25 MWp total capacity, R$100 million investment, 45 GWh/year production. Powers 970+ telecom antennas and towers.
- EnerzeeminorCommercial and strategic partnership for accelerating deployment of solar plant rental projects across Brazil. Enerzee handles plant rental while Faro provides construction and operation expertise.
- Lojas AmericanasflagshipConstruction and operation of 2 solar plants in Pernambuco and Distrito Federal to supply ~70 stores. Aims to increase renewable energy share to 30% of company's total consumption.
- C&A BrasilflagshipSolar energy supply to 11+ retail stores in Rio de Janeiro and Distrito Federal. 2.5 MW capacity, 5.5 GWh/year generation, 7,000 bifacial modules with tracker technology. 10-year contract with potential 10-year extension.
- NasdaqflagshipFaro Energy became the first South American issuer to join Nasdaq's Sustainable Bond Network (NSBN), which provides detailed information on sustainable bonds and impact on sustainable development goals.
- Grupo CaciqueminorSolar plant in Eliseu Martins, Piauí supplying energy to multiple consumer units. R$4.6 million investment, 2,234 MWh/year generation, R$7 million expected savings over contract term.
- TozziniFreireminorLegal advisor for structuring of sustainable bond issuance and green finance solutions.
- Bureau VeritasminorIndependent evaluator of Faro's sustainable bond projects under Climate Bond Initiative standards. Also certified Santander green bond financing.
- H. CommcorminorTrustee (Agente Fiduciário) for bond debenture holders in sustainable bond issuance.
- NGO Gaia+minorSocial impact partner for educational programming. Pilot project provides educational programming to 600 young students in Minas Gerais state. Program focuses on elementary school students and teachers.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
Faro Energy competitors and assessment
Company assessmentEmerging players
- 2W Energia: Brazilian solar energy company operating distributed and utility-scale PV projects for C&I and utility customers. Comparable to Faro in distributed-solar commercial model within the same Brazilian regulatory environment.
- Sunne: Brazilian BIPV and distributed solar energy company developing PV projects for commercial and industrial customers. Closely comparable in segment focus and Brazilian market orientation, though smaller in scale than Faro.
- Canadian Solar: Global solar manufacturer and project developer with growing Latin American project pipeline. Comparable as a developer-operator of PV assets in Brazil, though with manufacturing-led DNA that differs from Faro's pure-developer model.
Broad incumbents
- Comerc Energia: Brazilian energy management and solutions provider offering distributed generation, energy trading, and consultancy services to C&I clients. Comparable customer base and renewable-solutions overlap with Faro.
- Engie Brasil: Major Brazilian utility (subsidiary of France's Engie) with growing distributed-generation offerings for C&I clients. Overlaps with Faro in distributed solar for enterprises but operates across a much broader generation and retail-energy portfolio.
- Auren Energia: Brazilian integrated energy company formed from the combination of AES Tietê and VTRM, with significant renewable generation and C&I energy solutions. Operates in similar verticals to Faro but with broader conventional generation exposure.
- Enel Green Power Brasil: Subsidiary of Enel focused on renewables in Brazil, including distributed solar and utility-scale wind/solar. Comparable technology stack and C&I customer access, but with materially larger balance sheet and incumbent positioning.
Direct peers
- Solfácil: Brazil's largest distributed solar financing marketplace, connecting installers with end customers via credit products. Directly comparable to Faro's distributed C&I solar model and zero-CAPEX philosophy in the same Brazilian market.
- Atlas Renewable Energy: Latin American renewable energy developer with Brazilian solar projects, operating under similar PPAs and project finance structures. Comparable to Faro as a developer/operator of solar assets in Brazil and broader LatAm.
- Lightsource bp: Global solar developer with significant Brazilian operations developing utility-scale and distributed PV. Closely comparable to Faro as a project developer/operator in the same region, though with broader geographic and segment reach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Faro Energy social profiles
Digital presenceFaro Energy compliance and trust
Trust signalCompliance2 records
Faro Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Faro Energy leadership team
Management profileNumber of profiles
Profiles4 records
Faro Energy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Faro Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Faro Energy
What does Faro Energy do?
Faro Energy develops, finances, builds, and operates distributed solar photovoltaic power plants in Brazil on behalf of commercial and industrial clients under a zero-upfront-investment rental/lease model. Energy generated at Faro-owned plants is injected into the local distribution grid and converted into energy credits that are allocated to clients' consumer units through Brazil's net metering (autoconsumo remoto) framework, with clients paying discounted rates of up to 40% versus conventional utility tariffs. Faro also provides full operation and maintenance (O&M) services supported by proprietary remote monitoring and analytics.
Is Faro Energy a public or private company?
Faro Energy is a private company. It is classified as private equity controlled and is currently operating.
When was Faro Energy founded?
Faro Energy was founded in 2016. It employs 101 to 250 people.
Where is Faro Energy based?
Faro Energy is headquartered in São Paulo, Brazil, in the Latin America region.
How does Faro Energy make money?
Three revenue lines are on record. Solar Plant Rental/Lease Model is the primary driver. The others are energy Credit Trading (Autoconsumo Remoto) and green/Sustainable Bond Financing.
Who are Faro Energy's main competitors?
Emerging players on record are 2W Energia, Sunne and Canadian Solar. Broad incumbents are Comerc Energia, Engie Brasil, Auren Energia and Enel Green Power Brasil. Direct peers are Solfácil, Atlas Renewable Energy and Lightsource bp.
Does Faro Energy have an API?
No public API is recorded for Faro Energy.
What industry is Faro Energy in?
Faro Energy's product category is Distributed Solar Energy Services. Its primary akta.pro industry code is EUAMAGAB, Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro), with a secondary code of EUAMAGAK, Operations Control & Dispatch (Remote Operations Centers, Curtailment, Compliance). Its NAICS code is 22111 and its SIC code is 4991.