US-based independent infrastructure investment fund Global Infrastructure Partners (GIP) has acquired Atlas Renewable Energy from private equity company Actis.
Established in 2016, Atlas is a large-scale renewables developer in Latin America. It has increased its installed capacity by fivefold over a period of four and a half years.
The company currently has 14 fully contracted solar assets across Brazil, Chile, Mexico and Uruguay, with a combined installed capacity of 2.3GW.
GIP emerging markets partner Ronnie Hawkins said: “We are pleased to announce the acquisition of Atlas Renewable Energy, which further enhances GIP’s leading global renewables franchise.
“Atlas adds a large-scale Latin American platform to our solar, wind and battery 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.”
Atlas aims to deliver customer-focused energy solutions and provide green energy at competitive costs through custom-made solutions.
The company benefits from the renewable energy generation sector in the region, supported by economic growth and the global energy transition.
Atlas marks the fifth renewable platform to be sold by Actis in the Americas, where it has built and owns more than 7GW of contracted wind and solar capacity.
GIP is an independent infrastructure fund manager focused on equity and debt investments in infrastructure assets and businesses.
The company invests in the energy, transport, digital infrastructure, and water waste sectors in both OECD member countries and others in select emerging markets.
Atlas Renewable Energy CEO Carlos Barrera said: “The investment by GIP now marks a new and exciting phase for our company as we expand the business into new markets and new technologies, and continue to deliver tailor-made solutions that help corporates transition to clean energy.
“We look forward to the road ahead, and to continue to set a high bar in our ESG efforts to promote sustainable development through renewable energy.”
