Fund supervisor International Infrastructure Companions (GIP) and personal fairness agency Actis have accomplished the acquisition of Atlas Renewable Power by GIP for an undisclosed quantity.
The Miami-based photo voltaic developer is especially current within the Latin American market and has 2.3GW of put in photo voltaic capability throughout Brazil, Chile, Uruguay and Mexico.
Based in 2016 with the assist of Actis, photo voltaic developer Atlas elevated its put in capability five-fold over a 4.5 12 months interval with 14 totally contracted photo voltaic belongings. In doing so, it turned one of many largest unbiased renewables builders in Latin America, in keeping with Michael Harrington, companion and head of Americas at Actis.
With the acquisition of the Atlas, GIP has bolstered its renewables portfolio, which now quantities to 19GW of working and underneath development capability throughout North America, Europe and Asia.
Ronnie Hawkins, companion at GIP rising markets, mentioned: “We look ahead to supporting Atlas’ administration staff and leveraging GIP’s intensive expertise and relationships to additional scale the photo voltaic enterprise throughout different renewable applied sciences.”
In the meantime, Actis continues to promote its belongings – that is the fifth renewable platform the corporate has exited within the Americas – and agreed to promote its Sprng Power renewables platform to grease main Shell for US$1.55 billion earlier within the 12 months.
Carlos Barrera, CEO at Atlas Renewable Power, mentioned: “The funding by GIP now marks a brand new and thrilling part for our firm as we develop the enterprise into new markets and new applied sciences, and proceed to ship tailored options that assist corporates transition to scrub vitality.”
Earlier within the 12 months, GIP alongside co-investors closed on a US$500 million funding in unbiased energy producer (IPP) BrightNight LLC to fund its mission improvement.