Actis has sold Atlantic Energias Renovaveis, one of the largest renewable energy businesses in Brazil.
Actis acquired 60% of Atlantic Energias Renovaveis S/A (“Atlantic”) in September 2013 and consolidated its ownership position to 100% of the company in 2016, via the acquisition of the shares held by minority shareholders Pattac and Servinoga.
When Actis first invested, Atlantic had 220MW of projects with long-term power sales agreements, of which 70 MW were in construction. Since then, the company has grown into one of the biggest wind providers in the country with 245 turbines providing 642 MW of wind power to Brazilians.
Atlantic exemplifies Actis’ proven and successful energy investment strategy of building and scaling renewables platforms on a buy-and-build thesis, using best global practices.
Commenting on the deal Bruno Moraes, Director of Energy at Actis said: “Brazil’s wind resources are among the best in the world and Atlantic’s wind farms are among the most productive in Brazil. We are proud of what we have achieved over the last 6 years growing the business and delivering a platform including four wind farms with a combined output of 642MW”.
Actis has established itself as a leading energy investor having committed more than US$5 billion to 34 investments across 25 countries – generating 25GW and providing electricity to nearly 110 million customers. Actis has committed c. US$1.6bn to Brazil and c. US$3bn to the wider Latin American region.