Darby Private Equity, the buy-out arm of Franklin Templeton Investments, has announced that its Brazil Mezzanine Infrastructure Fund has invested R$58m ($30m) in Bioenergy Geradora de Energia and R$58m in Produman Engenharia.
Founded in 2002, Bioenergy has structured several wind-energy projects in the Northeast of Brazil. The company sold energy in the regulated market, through long-term power purchase agreements, at auctions held by Brazil’s federal agency, ANEEL, and are one of the first to sell wind energy in the open market. The Darby investment is funding wind parks that will be operational by year-end and that are part of Bioenergy’s planned portfolio of 1,500 MW.
Produman provides engineering solutions for the oil & gas (O&G) sector in Brazil and is a market leader in the maintenance and overhaul of refineries. The industry is expected to profit from the large O&G investments in Brazil. The investment will fund the development of Produman’s backlog of contracts.
David Hudson, a senior managing director at Darby’s Asia and global infrastructure and Latin America mezzanine division, said, “We are seeing intense activity in Brazilian infrastructure. Renewable energy and oil and gas are very attractive areas in Brazil and fit perfectly with BMIF’s portfolio and strategy.”
BMIF closed to new investors in 2008 with commitments of R$387.5m ($236m) in committed capital. BMIF makes investments in Brazilian infrastructure projects that are either new or expansions of existing, medium-sized infrastructure assets. The fund’s investments include GEA’s hydro- and thermal-power plant in northern Brazil, and T-Grão, the only independent grain terminal operator in the Port of Santos.
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