Global sustainable infrastructure investor Actis has announced its 5th renewable platform exit in the Americas by selling its stake in Latin America focused US headquartered Atlas Renewable Energy to Global Infrastructure Partners (GIP) for an undisclosed sum.
Atlas was launched in 2016 to develop, finance, construct and operate renewable energy projects, mainly solar PV and wind power facilities. It currently has 14 fully contracted solar assets with 2.3 GW installed capacity across Brazil, Chile, Mexico and Uruguay (see Latin America PV News Snippets).
For GIP, the transaction adds a large scale Latin American platform to its solar, wind and battery energy storage assets in North America, Europe and Asia. "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," said Partner of GIP Emerging Markets Ronnie Hawkins.
Atlas targets to expand the business into new markets and new technologies under the GIP's fold.
In April 2022, Actis exited Brazilian independent renewables platform Echoenergia, preceded by Chile's Aela Energia and Mexican independent power provider (IPP) Saavi Energia. GIP purchased Saavi Energia from Actis. In keeping with its business model, Actis also sold its stake in India's Sprng Energy to Shell this year.
The last 2 major renewable energy related activities of Actis saw it launching Central and South Eastern Europe focused Rezlov Energy and acquiring a 50% stake in Vietnam based Levanta Renewables (see Actis Takes Majority Stake In Vietnamese RE Firm).