Actis, Mesoamerica sell GME with 394 MW of Central America renewables

Actis and Mesoamerica have sold their combined 100% stake in Globeleq Mesoamerica Energy (GME), a Costa Rica-based company with a 394-MW operating wind and solar portfolio in Central America.

The buyer is Corporacion Multi Inversiones (CMI), a corporation of Central American origin with activities across 13 countries, Actis said at the end of December.

Latin American investment firm Mesoamerica bought GME in 2004, with emerging market-focused private equity company Actis joining in 2010 with the acquisition of a 70% stake in the business.

"Today’s transaction reflects the success of Actis’s proven, replicable strategy of aggregating energy assets into scalable regional platforms in high growth markets," said Mikael Karlsson, a partner in Actis’ energy business.

No value for the deal was announced.

CMI will incorporate GME's operations into its energy unit. "With the purchase of GME we now offer an installed capacity of 691 MW in Guatemala, Honduras, Nicaragua and Costa Rica; and diversified our renewable energy sources," said Juan Carlos Mendez, the energy unit's executive president.

In March 2016, TerraForm Global (NASDAQ:GLBL), one of the to yieldcos of bankrupt SunEdison (OTCMKTS:SUNEQ), cancelled an agreement to buy a 326-MW wind and solar power portfolio from GME along with its development pipeline.

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