EnfraGen Buys 188-MW Latin American Renewables Portfolio
- EnfraGen LLC acquires 188-MW renewables and grid portfolio in Panama & Costa Rica - a debt refinancing drives accretive balance sheet.
EnfraGen LLC, a Latin America-focused renewables and grid business, has completed the acquisition of a 188-MW portfolio of wind, solar and hydropower plants in Panama and Costa Rica. The bundle of six assets includes the 119-MW Dos Mares run-of-river hydro complex in Panama, the Prudencia and Divisa solar parks in Panama totalling 19.7 MW and the 49.5-MW Guanacaste wind farm in Costa Rica. The portfolio was sold by Colombian power company Celsia SA and the transaction was followed by a debt refinancing deal for EnfraGen’s main bank debt facility, enabling the company to include the cashflow profile of the new assets. The acquisition and debt refinancing will be accretive to EnfraGen’s balance sheet, according to CEO and founder Brendan Duval.
What Impact Will EnfraGen's Acquisition Have?
- EnfraGen's acquisition of a 188-Mw portfolio of renewable energy plants in Panama and Costa Rica marks the first acquisition for the company, and signals its commitment to expanding its renewable energy portfolio in Latin America.
- As the portfolio is comprised of wind, solar and hydro energy, EnfraGen is diversifying its energy production capabilities, creating a more robust and resilient energy grid.
- EnfraGen's commitment to renewable energy sources has the potential to reduce the emissions of greenhouse gases, helping to combat global climate change.
- The debt refinancing of EnfraGen's main bank debt facility will enable the company to include the cashflow profile of the new assets, providing a stabilizing force on the company's balance sheet.
- EnfraGen's acquisition and debt refinancing will be beneficial to its shareholders, providing a steady source of income and potential for appreciation in value.
- With a strong commitment to renewable energy, EnfraGen has set itself apart in the Latin American energy market, creating opportunities for other companies to follow suit.