Dinesh Nair and Manuel Baigorri, Bloomberg News
LONDON/HONG KONG
EnergiesNet.com 02 24 2022
Global Infrastructure Partners is in talks to acquire clean energy company Atlas Renewable Energy, people familiar with the matter said, in a deal that would bolster the investment firm’s presence in Latin America.
New York-based GIP is in advanced negotiations on a potential purchase of Atlas from its private equity owner Actis, the people said. A deal could value Miami-based Atlas at more than $2 billion including debt, the people said, asking not to be identified because the matter is private.
Atlas has also attracted interest from other suitors, the people said. There’s no certainty the discussions will lead to an agreement, and another buyer could still emerge, according to the people. Representatives for Actis and GIP declined to comment.
Launched in 2017, Atlas develops, builds and operates solar and wind projects in countries such as Brazil, Chile, Mexico and Uruguay, according to its website. It counts about 2.3 gigawatts of contracted projects, and it aims to expand by an additional 4 GW in the coming years. Founded in 2004, Actis is a global investor in sustainable infrastructure with about $15 billion in assets under management, its website shows.
GIP is a global infrastructure fund with about $77 billion in assets under management, according to its website. It targets assets in sectors such as energy, transportation, digital, water and waste.
Actis, which focuses on sustainable infrastructure deals, said in October it had secured $4.7 billion of commitments for its latest energy fund. Including co-investment opportunities, the firm will be able to deploy $6 billion of capital, according to a statement at the time.
bloomberg.com 02 243 2022