GIP and Actis Announce Atlas Renewable Energy's Purchase by GIP

Published on:
by KnowESG

Global Infrastructure Partners (GIP), a leading independent infrastructure investor, and Actis, a leading global investor in sustainable infrastructure, announced that GIP had bought Atlas Renewable Energy.

Atlas is Latin America's second-largest independent renewables developer, with 14 fully contracted solar assets totalling 2.3GW of installed capacity spread across Brazil, Chile, Mexico, and Uruguay.

Atlas Renewable Energy was started in 2016 by a group of very experienced executives with help from Actis. In 4.5 years, Atlas increased its installed capacity by five times from what it was when it started. Atlas's strategy has been to offer energy solutions that are tailored to the needs of each customer. The company's goal is to offer green energy at fair prices through new, custom-made solutions. 

Atlas benefits from regional sector tailwinds, such as rising demand for renewable energy generation due to economic growth and the global energy shift, as well as the availability of a lot of renewable resources. Atlas is in a good position to help lead this growth because it has a unique product, a scalable regional presence, and strong relationships with customers in the region. 

Ronnie Hawkins, Partner of GIP Emerging Markets, said:

"We are happy to announce that Atlas Renewable Energy has been bought by GIP. This makes GIP the leading global renewables franchise even stronger. Atlas adds a large-scale Latin American platform to our solar, wind, and battery storage assets in North America, Europe, and Asia. We're excited to work with Atlas's management team and use GIP's experience and connections to expand the solar business into other renewable technologies. 

Michael Harrington, Actis Partner and Head of Americas added: 

“We are immensely proud of the Atlas platform and organisation. We used our experience and connections in the global renewable energy industry to help build it, taking it from a restructuring process to one of the largest independent renewable energy businesses in the region and a global leader in sustainability. The sale of Atlas marks our fifth renewable platform exit in the Americas, where we have now built and owned over 7 GW of contracted wind and solar capacity, making Actis one of the largest private investors in the energy transition of the region.”

Carlos Barrera, CEO, Atlas Renewable Energy, commented: 

"Over the past five years, Atlas Renewable Energy has grown in a truly remarkable way. As a result, we are now the leader in the region when it comes to offering competitive, clean energy solutions to large businesses. We are grateful for Actis’ partnership, trust, and commitment during this period. Now that GIP has invested in our company, we are entering a new and exciting phase as we expand into new markets and technologies and continue to offer customised solutions that help corporations switch to clean energy. We look forward to the road ahead and to continuing to set a high bar in our ESG efforts to promote sustainable development through renewable energy.”

Source: GIP

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