Libra Group's LatAm renewables business buys Colombian energy firm
Solar panels. Author: Peter Leth. License: Creative Commons, Attribution 2.0 Generic.
The Libra Group, a diversified holdings company, said that its Latin American renewables unit has acquired Colombia-based sustainable energy business 2C Power.
The acquisition by Panama-rooted Greenwood Energy Latinoamerica will lead to the creation of a consolidated company that will develop, install and finance cleantech projects with a focus on distributed generation.
The new company will trade as Greenwood Energy.
2C Power develops and finances energy solutions for the commercial and industrial (C&I) clientele. According to the Libra Group, the targeted company has more than 600 MW of projects in the development pipeline across solar, biogas, biomass, cogeneration and gas generation technologies.
The merger of the two teams will enable Greenwood Energy to take its platform further to South America and offer energy solutions to business clients struggling with unreliable power supply due to inadequate infrastructure.
“These two entities each have an excellent track record in their regions and each brings a large business pipeline to the combined company making it well poised for further acquisitions and growth," added Libra Group chairman and CEO George Logothetis.
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