Actis says that its new energy platform in Mexico, Zuma Energía, has completed its first acquisition in the country.
The London-based private equity firm says that it is committing $250 million to establish Zuma, which is aiming to build a portfolio of over 500 MW of installed capacity in Mexico.
Zuma recently bought and closed the financing of PE Ingenio SAPI de CV, a 50 MW wind farm located in the state of Oaxaca. The project will be built by Acciona Energía.
Zuma's growth strategy will involve partnering on new projects as well as developing its own proprietary pipeline. The firm will leverage Actis' experience in the power sector, including project finance, construction and operations, to build a leading independent power producer in Mexico.
Zuma is Actis's fourth power generation platform in Latin America, following recent investments in Brazil, Chile and Central America.
"Supported by the recent reform agenda in the energy sector, Mexico has compelling fundamentals for investing in power generation, including superior natural resources, an evolving and supportive regulatory framework and an deep project finance capacity," said Michael Till, Co-Head of Energy at Actis. "Drawing on our deep understanding of the Latin American energy sector we are looking forward to building one of Mexico's leading suppliers of competitive power."
Zuma's Ingenio wind project will receive debt finance from Bancomext and will have Comexhidro as a local partner with a five per cent interest. "We are proud to support the financing of this project. It is a testimony to our commitment to financing renewable energy projects," said Enrique de la Madrid, CEO Bancomext.
Linkedin
