Global Infrastructure Partners (GIP) announced on Tuesday that it has acquired Latin America-focused platform Atlas Renewable Energy from private equity firm Actis.
Financial details were not disclosed.
Set up in 2016 with the backing of Actis, Atlas has grown to become the second largest independent renewables developer in Latin America. It has 14 fully contracted solar assets with 2.3 GW of installed capacity across Brazil, Chile, Mexico and Uruguay, according to Tuesday’s statement.
This year, Atlas took its first steps in the region’s wind power market, striking agreements with France’s Voltalia SA (EPA:VLTSA) in Brazil and Enel Generacion in Chile.
“The sale of Atlas marks our fifth renewable platform exit in the Americas, where we have now built and owned over 7 GW of contracted wind and solar capacity, making Actis one of the largest private investors in the energy transition of the region,” said Michael Harrington, Actis Partner and Head of Americas.
For the infrastructure fund manager, “Atlas adds a large-scale Latin American platform to [its] solar, wind and battery storage assets in North America, Europe and Asia”, added Ronnie Hawkins, Partner of GIP Emerging Markets.
“We look forward to supporting Atlas’ management team and leveraging GIP’s extensive experience and relationships to further scale the solar business across other renewable technologies,” Hawkins stated.
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