New York – October 11, 2022: Global Infrastructure Partners, a leading independent infrastructure investor, and Actis, a leading global investor in sustainable infrastructure, jointly announced the completion of the acquisition of Atlas Renewable Energy by GIP.
Atlas is the second largest independent renewables developer in Latin America with 14 fully contracted solar assets that produce 2.3GW of installed capacity, across Brazil, Chile, Mexico and Uruguay.
Atlas Renewable Energy was founded in 2016 by a team of highly-experienced executives, with the support of Actis. From an initial development portfolio, Atlas has increased its installed capacity by 5x over a 4.5 year period. Atlas’ approach has been focused on delivering customer-focused energy solutions with the goal of providing green energy at competitive costs through tailor-made, innovative solutions.
Atlas benefits from sector tailwinds in the region, as economic growth and the global energy transition, coupled with the availability of abundant renewable resources, are driving increased demand for renewable energy generation. Atlas is well-positioned to help lead this growth through its differentiated offering, scaled regional presence, and strong existing relationships with customers in the region.
Ronnie Hawkins, Partner of GIP Emerging Markets 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.”
Michael Harrington, Actis Partner and Head of Americas, added: “We are immensely proud of the Atlas platform and organization. Building it has called upon our experience and networks across the global renewable energy industry to take it from a restructuring process, to creating one of the region’s largest independent renewables businesses and a global sustainability leader. 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: “In the past five years Atlas Renewable Energy has experienced a remarkable growth journey that now positions us as a regional leader in delivering competitive, clean energy solutions to large corporate customers. We are grateful for Actis’ partnership, trust and commitment during this period. 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.”
GIP is a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport, digital infrastructure, and water/waste sectors in both OECD and select emerging market countries. GIP’s global renewables portfolio includes solar, wind, hydro, and battery storage assets representing 19 GW of operating and construction capacity, royalty interests in over 20 GW of operating renewable projects, and over 173 GW of assets under construction or in development. Headquartered in New York, GIP operates out of 10 offices: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $84 billion for its investors. GIP’s portfolio companies have combined annual revenues of c. US $68 billion and employ over 100,000 people. For more information, visit https://www.global-infra.com.
Actis, is a leading global investor in sustainable infrastructure. Actis has raised US $24 billion since inception and operates with sustainability at its core. Actis believes Values Drive Value, through deep operational experience, on the ground presence and a value-led approach, Actis delivers competitive returns for its institutional investors and measurable positive impact for the countries, cities and communities in which it invests.
Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UN Principles for Responsible Investment (PRI) independent assessment. www.act.is.
About Atlas Renewable Energy:
Atlas Renewable Energy is an international renewable energy generation company that has been developing, financing, constructing, and operating renewable energy projects throughout the Americas since early 2017. Atlas Renewable Energy includes an experienced team with deep global power market and renewable energy expertise, and with the longest track record in the renewable energy industry in Latin America. The company’s strategy is focused on helping large corporates make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in the development, construction, and operation of large-scale projects; as well as a deep and long-standing track record in ESG and sustainable development. For more information, visit: AtlasRenewableEnergy.com.