The acquisition marks GIP’s second major foray into wind power, following last month’s purchase of Wpd’s offshore wind unit. Renowned company Skyborn Renewables is developing around 30 GW of offshore wind projects in Europe and Asia.
Until recently, Atlas was primarily a solar developer, but branched out into wind earlier this year.
In April, it signed a power purchase agreement to supply Enel Generación Chile with 1.3 TWh of electricity, per year, from three wind farms with an installed capacity of 417 MW.
In June, the company acquired the 378 MW Juramento wind project in the Brazilian state of Minas Gerais from France’s Voltalia.
The company is the second largest renewable energy developer in Latin America and until recently focused on solar energy, operating fourteen facilities in Brazil, Chile, Mexico and Uruguay with 2.3 GW of capacity installed.
“Atlas adds a large-scale Latin American platform to our solar, wind and battery storage assets in North America, Europe and Asia. We look forward to supporting the Atlas leadership team and leveraging GIP’s extensive experience and relationships to further grow the solar business across other renewable technologies,” said Ronnie Hawkins, Markets Partner emerging from GIP.
Actis founded Atlas in early 2017 to develop, build and operate renewable energy projects throughout Latin America.
“The sale of Atlas marks our fifth renewable platform exit in the Americas, where we have now built and owned over 7 GW of wind and solar capacity under contract, making Actis one of the largest private investors in the region’s energy transition,” a spokesperson said. for the company said.