SolarCentury acquires 400MW of LatAm solar projects

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Tuesday, April 18, 2017

SolarCentury has acquired 400MW of ready-to-build and partially developed photovoltaic solar projects across Latin America, the company said Tuesday.

The projects are located in five countries, including Panama, Mexico and Chile. SolarCentury's portfolio in the region now exceeds 1GW, the London-based firm said in a statement.

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SolarCentury also incorporated four new professionals to its leadership team, all of whom worked previously for the ECOSolar investment fund.

The new additions include Enrique de Ramón, formerly ECOSolar's CEO, who is now SolarCentury's general director for Latin America. Fenrando Zúñiga, meanwhile, will be in charge of development for the entire region, excluding Mexico.

"SolarCentury's experience in development will guarantee that the acquired projects ... become finalized projects and translate into profitability for the investors," de Ramón said.

The statement did not specify from whom the projects were acquired, nor a dollar amount for the transaction, which follows the acquisition by private equity firm Actis of over 1,500MW of solar PV assets in Latin America from bankrupt renewables giant SunEdison.

ALSO READ: Solarcentury looks to expand LatAm footprint