Zuma Energía acquires 50 MW wind farm in Oaxaca, Mexico

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Zuma Energía announced it has completed the acquisition of PE Ingenio, a 50 MW wind farm located in the state of Oaxaca.

Actis, a private equity firm focusing on emerging markets, has committed US$250 million for Zuma Energía. Actis will target over 500 MW of installed capacity in the country.

The project will also receive debt finance from Bancomext and will have Comexhidro as a local partner with a 5 percent interest.

The project will be constructed by Acciona Energía who will also supply its 33 wind turbines.

Once in operation, the wind farm is expected to produce enough clean energy to power over 125,000 Mexican households, reducing CO2 emissions from conventional generation by over 200,000 tons, the company said.

Actis will provide project finance, construction and operations support.  Zuma is Actis’s fourth power generation platform in Latin America, following recent investments in Brazil, Chile and Central America.

Mexico has emerged as a compelling market for renewable energy generation.

“Drawing on our deep understanding of the Latin American energy sector we are looking forward to building one of Mexico’s leading suppliers of competitive power,” said Michael Till, co-head of Energy at Actis.

Rafael Mateo, CEO of Acciona Energía, said, “Actis’s interest in partnering with us strengthens our business in Mexico, a country where we already have significant presence, and in which we continue to develop new projects.”

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