Brazil Potash signs MOU with Fictor Energia to fund $200M power infrastructure for Autazes Project

Brazil Potash signs MOU with Fictor Energia to fund $200M power infrastructure for the Autazes potash project in the Amazon, plus a $20M strategic equity investment.

Mineral exploration and development company Brazil Potash (NYSE: GRO) announced Monday the signing of a non-binding Memorandum of Understanding (MOU) with Fictor Energia, the infrastructure division of Brazilian private equity firm Fictor Group. The agreement outlines $200 million in funding for the construction of power transmission infrastructure for the Autazes potash project, along with a $20 million strategic equity investment.

Under the MOU, Fictor Energia will be fully responsible for developing, permitting, building, and operating the infrastructure needed to deliver 300 megawatts (MW) per year of power—approximately 80% sourced from renewable energy—from Brazil’s grid to the Autazes project. This will follow a Build, Own, Transfer (BOT) model, with Fictor retaining ownership for 25 years before transferring the assets to Brazil Potash.

In addition to the infrastructure investment, Fictor Energia plans to inject $20 million in equity into Brazil Potash in two phases: $2 million upon signing of the definitive agreement, and $18 million upon obtaining the power line installation license.

Strategic boost for Autazes project

Located about 75 miles (120 km) southeast of Manaus, the Autazes project is positioned to become Latin America’s largest potash mine. After encountering delays due to Indigenous opposition, Brazil Potash received the state license to begin construction in 2024, a significant milestone for the company.

This new partnership removes a major financial burden from Brazil Potash’s budget by shifting the entire $200 million transmission infrastructure cost to Fictor Energia, allowing the company to focus on mine development and operations. The power infrastructure is expected to be operational by July 2029, aligning with the project’s production timeline.

Construction of the mine and its associated processing facilities is projected to take approximately three years.

Supporting sustainability and clean energy goals

The agreement strengthens Brazil Potash’s commitment to sustainable development in the Amazon. By sourcing the majority of its energy from renewables, the Autazes project aligns with both Brazil’s environmental regulations and global climate goals.

Both parties are now working toward executing definitive agreements, while Fictor Energia will immediately begin preliminary engineering and regulatory procedures to fast-track implementation.