The loan will be used to invest in developing biomass, wind, hydro, solar energy projects and biogas plants.
The funds will be managed by another Banco Votorantim unit Votorantim Asset Management Distribuidora de Titulos e Valores Mobiliarios.
Votorantim expects to raise minimum amount of BRL 500m ($317.6m) for the three funds, reports bloomberg.com.
Brazil is awarding power contracts with renewable-energy developers on a yearly basis through auctions.
The next two yearly auctions are scheduled to be held on 17 and 18 August.
