New mergers, acquisitions in the Latin American renewable energy market

The iDeals M&A community has shared pv magazine mergers and acquisitions (M&A) in the field of renewable energy announced in Latin America in April. According to the data, eight M&A agreements and 10 in the finance and investment sector were announced last month.

M&A agreements

1. Enel Perú has sold assets to the Chinese company CSGI for $2.9 billion.
2. Enel is merging the power generation units in Peru.
3. In Mexico, Fonadin agreed to buy more than 8,400 MW of combined gas plants from Iberdrola.
4. UK-based Allotrope Energy received a $6.7 million venture capital investment from Suzano Ventures to produce batteries from trees in partnership with Brazilian pulp producer Suzano.
5. ArcelorMittal and Casa Dos Ventos formed a joint venture for a 554 MW wind project in Brazil.
6. Iberdrola’s Brazilian subsidiary Neoenergia and Singaporean investment company GIC established a joint venture to develop a transmission network in Brazil for 430 million euros ($472 million).
7. US investment group BlackRock increased its stake in Brazilian power company Cemig, rising from 9.913% to 10.015% in 2022.
8. Investors Pash Global and Erih Holdings have announced a joint venture to develop and invest in green hydrogen and ammonia projects in Colombia, Spain, Italy, Turkey, Greece and Serbia by 2030.

Financing and investment activities

1. Canadian IPP Innergex received $49.5 million in financing for a battery energy storage project in Chile.
2. Elecnor Group’s renewable energy subsidiary Enerfín received a $57 million loan for a 129 MW solar project in Colombia.
3. Enel received EUR 600 million in financing from the EIB and SACE to support sustainable development energy investments in Latin America.
4. Spain’s Solatio Energia announced an investment of BRL 8.5 billion ($1.69 billion) in a 2.5 GW solar power plant in the state of Mato Grosso do Sul, Brazil.
5. BN Engenharia to build 738 MW SPIC and Canadian Solar projects in Brazil for BRL 2 billion ($400 million).
6. BNDES financed 144 MW of solar energy projects for 49 new plants from Brazilian (re)energetic for BRL 700 million ($139 million).
7. BNDES financed 202.5 MW of wind energy in Brazil’s Rio Grande do Norte for BRL 907 million ($180 million).
8. Lightsource BP completed a $152 million financing for a 210 MWp solar farm in Brazil.
9. Three solar power plants and four wind farm projects in Mexico received low-interest loans.
10. French multinational Engie announced it will invest $1.8 billion in renewable energy in Chile.