UK emerging markets private equity investor Actis is to raise BRL385m ($163m) for its latest Brazil-focused energy fund.
According to Bloomberg, the Actis Brasil Energia Fundo de Investimento em Participacoes intends to raise capital from international investors. It will invest an unspecified amount into renewable energy developer Atlantic Energias Renovaveis.
Atlantic owns two wind farms in the northern state of Rio Grande de Norte – each with 30MW of installed capacity. The company currently owns a further five small hydroelectric plants in the south, with a total of 41.5MW.
Earlier this year Actis committed $290m for a 60 per cent stake in Chilean renewable energy developer Aela Energía. MEanwhile the firm has set a $750m target for its third energy fund, which received a commitment from Danish pension fund PKA.
Copyright © 2013 NewNet