Actis Capital LLP, a private equity firm headquartered in the London, has sold a 30% stake in its Mexican energy platform Zuma Energía to Mesopower México Corp, a vehicle managed by the investment firm Mesoamerica.
Mesoamerica managing director and Mesopower Mexico chairman of the board of directors Luis Javier Castro commented:
We are proud to be part of Zuma Energía and continue our alliance with Actis in the region. Our objective is to repeat in Mexico the success we have had in Central America, where we are the pioneers in clean energy generation.
In early September Actis committed US$250 million to establish Zuma Energía, which will target over 500 MW of installed capacity in the country. According to Actis, Zuma now has the capacity to invest between US$300 million and US$350 million of equity in energy projects in Mexico.
Zuma Energía on 5 September completed its first acquisition and closed the financing of PE Ingenio, S.A.P.I. de C.V., a 50 MW wind farm located in the state of Oaxaca. The project will be constructed by Acciona Energía who will also supply its 33 wind turbines.
Zuma Energía’s growth strategy involves both partnering on new projects and developing its own proprietary pipeline. The business will leverage Actis’s expertise in the power sector, especially in project finance, construction and operations, to build a leading Independent Power Producer player in Mexico. Zuma is Actis’s fourth power generation platform in Latin America, following recent investments in Brazil, Chile and Central America.