Glenfarne Energy Transition and Partners Group Joint Venture EnfraGen Announces Acquisition of Four Run-of-River Hydro Assets in Southern Chile
The four assets represent 13.6 MW of renewable, reliable energy capacity
NEW YORK, December 30, 2022--(BUSINESS WIRE)--EnfraGen, LLC ("EnfraGen"), a developer, owner, and operator of specialized sustainable, renewable power and grid stability assets in Latin America owned by Glenfarne Energy Transition, LLC, a global energy transition company providing critical solutions to lower the world’s carbon footprint addressing the "here and now" energy transition and leading global private markets firm, Partners Group, on behalf of its clients, announces the acquisition of four run-of-river hydropower assets in southern Chile, totaling 13.6 MW, from Invercap S.A., an investment group focused on mining and steel in Chile.
The acquired assets are owned outside of EnfraGen’s existing senior credit group, which was established following a 2020 refinancing. The four plants will be operated by Prime Energía SpA, a subsidiary of EnfraGen, and include La Arena, a 6.8 MW plant located near Puerto Montt; Tranquil, a 3.0 MW plant located near Panguipulli; San Victor, a 3.0 MW plant located near Puerto Aysen; and Cuchildeo, a 0.8 MW plant located near Hualaihue.
"The addition of these hydro plants to EnfraGen’s diversified energy and power asset portfolio are indicative of the transactions we will continue to pursue to grow EnfraGen into Latin America’s leading energy transition company," said Brendan Duval, EnfraGen CEO and Founder and CEO and Founder of Glenfarne Energy Transition, LLC. "Like EnfraGen’s existing hydro assets in Panama, Southern Chile sits within a high-growth, emerging market with ample opportunity to utilize its natural, renewable energy sources to reduce carbon emissions and further Chile’s and Latin America’s energy transition."
Ed Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, and EnfraGen Board Member added, "Partners Group is pleased to support the acquisition of these renewable hydropower assets in Chile. These assets are consistent with EnfraGen’s value-added renewable and grid stability business model and Partners Group's commitment to investing in next-generation infrastructure."
"With this acquisition, EnfraGen not only reaffirms its commitment to Chile in its strategy to achieve a sustainable energy transition, but also it confirms its intention to continue investing and growing in the country, contributing to grid stability and the development of more renewable energy," said Jose Arosa, CEO of Prime Energía SpA, EnfraGen's main Chilean subsidiary.
EnfraGen has operational and in-construction assets totaling nearly 1.9 GW of capacity across Chile, Panama, and Colombia with corporate offices located in Houston and New York in the United States.
About EnfraGen, LLC
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin America. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.
EnfraGen is jointly controlled by Glenfarne Energy Transition, LLC, and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling nearly 1.9 GW of installed capacity. The company, including its affiliates and subsidiaries, is supported by a team of nearly 400 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.
About Glenfarne Energy Transition, LLC
Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Rio De Jainero, Brazil; Jakarta, Indonesia; Barcelona, Spain; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne Energy Transition aims to address the "here and now" global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America, Asia, and Europe. For more information, please visit www.GlenfarneEnergyTransition.com.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 131 billion in assets under management as of 30 June 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
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