Denham Capital, a leading global energy-focused private equity firm, announced yesterday a partnership with Jenner Renewables. The Madrid-based independent power producer will develop, finance and construct renewable power generation assets globally. Initially, the company will focus on selected countries in Latin America, the Middle East and North Africa.
Jorge Calvet, the Founder and Chief Executive Officer of Jenner Renewables, said:
“We are very excited to partner with Denham Capital, a firm that not only brings capital to our efforts but also provides a deep global industry network and a wealth of knowledge in the power sector. This partnership will allow us to begin developing wind, solar and small hydro projects in countries where we see a clear need for this type of power generation.”
Prior to founding Jenner, Calvet served as the Chief Executive Officer of Gamesa, one of the largest wind developers and manufacturers in the world. Jenner's senior leadership also includes former executives of Gamesa and other leading entities in the field of renewable energy. The team has collectively developed more than four gigawatts of wind and solar projects globally with an enterprise value of $4.5 billion.
The investment bolsters the Denham Power team’s Latin American presence, joining Brazil’s Rio Energy, a renewables company which now has 54 megawatts of operational assets and more than 200 megawatts of assets in construction across the region.
Scott Mackin, Managing Partner and Co-President at Denham Capital, said:
“This investment allows us to expand our reach in Latin America, a region where we see a big demand for power generation and an attractive opportunity for renewable power. At the same time, it creates a global platform that will allow us to execute in other geographies where wind can effectively compete with the current cost of power and provide an economic source of generation. We are very happy to work with Jorge and the Jenner team. Their global experience and track record is outstanding, and I have no doubt their skills will allow us to execute successful investments and bring needed power generation capacity to Latin America and other places around the world.”