Growth market investor Actis has launched Yeltica Energy, a greenfield renewable energy platform in Mexico targeting 2GW+ of generation capacity.
Actis is one of the largest private energy investors in Mexico, having previously owned and exited Zuma Energia, Saavi Energia and Atlas Renewable Energy in the country and currently owning a3.2GW gas platform Valia Energia. Since inception, the firm has owned 7.3GW of generation capacity in the Mexican market.
Yeltica Energy is anchored by three solar-plus-storage projects, totalling approximately 330MWp of solar PV and 255MWh of battery storage, awarded under the first Mixed Investment Tender run by Mexico’s state utility, the Comisión Federal de Electricidad (CFE).
The three projects benefit from contracted 25-year, US dollar-denominated and inflation-indexed cash flows thanks to PPAs with an investment-grade anchor offtaker in CFE.
Yeltica Energy will look to scale beyond its anchor portfolio towards 2GW+ of solar, wind and battery storage capacity. It intends to grow through further participation in Mexico’s public tenders and through proprietary origination with developers and offtakers.
CEO José Luis García has more than 25 years’ experience in the energy sector, having previously held the role of CEO at Zelestra LATAM, where he built and divested a 1GW+ renewables platform across Chile, Peru and Colombia, and that of CEO at former Actis business Zuma Energia, where he developed and built 800MW+ of wind and solar assets in Mexico.
Alberto Estefan, managing director, energy infrastructure at Actis, said: “Mexico is one of the most compelling infrastructure markets in Latin America from our perspective. In energy in particular, rising demand and a policy framework that looks to mobilise private capital is creating strong opportunities for investors. We have deep roots in this market and the on-the-ground expertise to build and operate the critical, clean power to support Mexico’s growth and energy security.”
Yeltica Energy CEO García added: “It’s an exciting moment for Mexican energy and there’s positive momentum. I have built in this market before, alongside Actis at Zuma, and returning to that partnership was an easy decision – the firm takes a long-term view, backs the team, and is interested in construction and operations, beyond capital deployment. Yeltica Energy begins with an anchor portfolio and a strong pipeline – a great start to meet our ambitions.”
In addition to Actis’s long track record in Mexican energy, the firm is also investing in the country’s data centre development through Latin American hyperscale platforms Terranova and NextStream.
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