Global Infrastructure Partners (GIP) has bought Atlas Renewable Energy from investment firm Actis.

Atlas, founded in 2016 with the support of Actis, is the second-largest independent renewables developer in Latin America. The company has 14 fully contracted solar assets that produce 2.3GW of installed capacity, across Brazil, Chile, Mexico and Uruguay.

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, said: “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 7GW 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, said: “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.”

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