Actis acquires 1500-MWs of SunEdison Latin American projects and launches a $525 million renewable energy firm, Atlas

Written By: Stratton Report
March 1, 2017

On March 1, Actis, announced the acquisition of over 1,500-MW of solar PV assets from SunEdison in Latin America and that the firm will invest $525 million to establish a Pan-Latin American renewable energy platform, Atlas Renewable Energy. The new organization will target over 1,500-MWs of installed capacity across the Latin America region.

Actis has a growing portfolio of investments across Asia, Africa and Latin America and emphasized that it has raised over $11 billion. Actis stressed that Atlas will be its fifth power generation platform in Latin America, following recent investments in Mexico, Brazil, Chile and Central America.

Per Actis, the SunEdison acquisition included 578-MWs of contracted projects in operation, construction or advanced development stage, and over 1,000-MWs of projects in early stage development.

Actis noted that Atlas Renewable Energy’s growth strategy will involve both partnering in new projects and developing its own proprietary pipeline, with a focus on solar PV projects across Latin America. Core target markets will include Brazil, Mexico, Uruguay and Chile. The business will leverage Actis’ expertise in the power sector, especially in project finance, construction, and operations, to build a leading power generation company in the region. Atlas will bring on an experienced management team with a successful track record in the development and construction of solar PV projects across the region. The company will be headquartered in Santiago, Chile, and will have regional offices in Brazil and Mexico.

Michael Harrington, a partner in the Energy business at Actis, remarked:

The creation of the Atlas Platform represents Actis’ commitment to Latin America, recognizing its continued robust potential for renewable energy growth. This business plan will be led by a strong, tested management team with proven track record in the solar industry. We are delighted to back this management team to build and grow Atlas, and feel strongly that this transaction sets off the platform to a great start.

Carlos Barrera, CEO of Atlas Renewable Energy, observed: “Actis is the undisputed leader in setting up successful platforms in Latin America and other growth markets globally. We look forward to working with them to position Atlas Renewable Energy as one of the leading renewable platforms in Latin America.”