January 13 (Renewables Now) - Private equity firm Denham Capital has committed to investing USD 250 million (EUR 224.7m) in Ceiba Energy, a Latin America-focused owner and developer of power generation assets, according to a joint statement on Monday.
The investment will support Ceiba’s initiatives to develop, build and acquire renewable energy and low-carbon projects across Latin America, where its track record extends to over 50 power projects, the two companies said.
Targeting countries such as Mexico, Colombia, Brazil, Chile, Panama, and Peru, Ceiba seeks markets with which its team is familiar with and are characterised by stable legal framework. It is committed to growing its operations through a combination of mergers and acquisitions (M&A) and brownfield and greenfield development, according to the statement.
For its part, Denham expects to further grow its investment portfolio in Latin America and becoming a leading investor in local renewable and natural gas-fired power generation assets.
(USD 1.0 = EUR 0.90)