ERM owns and operates a 23MW wind energy plant in Tilaran, Costa Rica and is developing the Cerro de Hula wind energy project in Honduras, with a designed capacity of 100MW. Additionally, ERM owns the rights of several potential renewable energy projects in the region.
Mikael Karlsson, CEO of Globeleq, said: “This is a very exciting acquisition for Globeleq. Wind power provides a clean, reliable and affordable alternative source of electricity generation and is an integral part of our strategy. The addition of ERM’s expertise and portfolio to the company positions us for further opportunities to develop sustainable and renewable energy businesses, enabling us to bring essential power to Central America and beyond.”
Globeleq will acquire a 70% controlling interest in ERM from business groups in Central America, represented by Mesoamerica, the region’s M&A advisory, strategic consulting and private equity firm. The remaining interest in ERM will continue to be held by the current shareholders.
Luis Castro, managing partner of Mesoamerica, said: “With Globeleq, we look forward to a partnership that will allow us to continue with our vision of bringing about competitive, clean energy in a transparent, socially responsible manner.”
Jay Gallegos, CEO of ERM, said: “Being part of an experienced international operating company like Globeleq provides a great opportunity for all of us. Globeleq, Mesoamerica and ERM are combining investment, expertise and resources to bring clean, reliable and affordable renewable technologies to the region.
“This combination creates a platform for building a leading renewable energy business in Central America. Together we look forward to bringing the Cerro de Hula project in Honduras and other projects in our development pipeline to fruition.”
