NEW YORK–(BUSINESS WIRE)–Exagon Impact Capital (“Exagon”), a private equity firm advancing the renewable energy transition in Latin America and the Caribbean, announced the second portfolio company acquisition on behalf of its inaugural fund, Exagon Latin America Fund I (“XLA I”). The Fund acquired a controlling stake in SunRoof, a Latin American renewable energy platform with operations in Mexico and Chile.
Founded in 2016, SunRoof has emerged as a leading renewable energy provider for commercial and industrial (“C&I”) clients across Latin America, having built a strong reputation as a trusted partner in corporate sustainability, delivering customized clean energy solutions to an impressive roster of blue-chip clients through its build-and-hold platform.
The Fund’s investment will support SunRoof’s expansion in Mexico, accelerating distributed generation solar adoption in the C&I sector. SunRoof is positioned to capitalize on rising demand from global sustainability-focused brands, having secured long-term PPAs with companies expanding in Mexico, including multinational food and beverage, tire manufacturing, and Mexican beverage firms.
“SunRoof’s founding team embodies the qualities we look for in a partner: an entrepreneurial track record, financial sophistication, a commitment to transparency, and a culture of innovation,” said George Osorio, Co-Founder and Managing Partner of Exagon Impact Capital. “What sets SunRoof apart is its distinctive and forward-thinking approach that is evident in everything they do – from securing US dollar PPAs that eliminate currency risk, to gaining a competitive edge with their innovative solar panel cleaning technology.”
SunRoof’s patented autonomous solar panel cleaning technology drastically reduces water usage while maximizing energy yield, reinforcing their sustainable innovation leadership.
“We’ve developed a strong relationship with the Exagon team over time, and we’re honored by their trust in our vision,” said Francisco Martin, Founder and CEO of SunRoof. “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.”
Exagon’s strategic addition of SunRoof to the XLA I portfolio strengthens the Fund’s position in Latin America’s middle-market renewable energy sector. «We are confident that SunRoof’s exceptional team and differentiated business model will deliver strong, long-term value to our portfolio,» said Marc Frishman, Co-Founder and Managing Partner of Exagon.
About Exagon Impact Capital
With offices in New York and Bogota, Colombia, Exagon Impact Capital is a private equity firm dedicated to driving sustainable growth and positive impact in Latin America’s energy sector. The firm’s XLA I Fund invests in high-potential, growth-stage companies that are advancing the renewable energy transition in the region. With a focus on clean energy, energy efficiency, and environmental sustainability, Exagon seeks to deliver attractive financial returns while addressing some of the region’s most pressing environmental challenges.
Exagon’s leadership team – George Osorio, Marc Frishman, Claudia Arango, and Marc Ricart – brings decades of experience in private equity, clean energy, and emerging markets. Their regional expertise and strategic approach drive Exagon’s focus on delivering attractive returns from impactful investments in the renewable energy sector.
About SunRoof
SunRoof is a leading Latin American clean energy provider serving commercial and industrial clients through solar and battery storage solutions. Originally established in Chile with a strong blue-chip client base, the company has expanded into Mexico’s rapidly growing C&I renewable energy market, offering Power Purchase Agreements under the ESCO model that enable corporations to decarbonize operations with no upfront costs while improving ESG performance.
Co-founded by Francisco Martin and Nicolás Ibarra, SunRoof combines technical expertise with deep regional market knowledge to build long-term partnerships with major global corporations. The company’s track record and dedicated team position it as a key driver of Latin America’s clean energy transition.
Contacts
Marc Frishman
Managing Partner
Marc.frishman@exagonimpact.com
www.exagonimpact.com
