Actis, a global investor in sustainable infrastructure, has sold Saavi Energía (Saavi), the fourth largest independent power producer and the largest privately held stand-alone power generator in Mexico, to Global Infrastructure Partners (GIP).
Terms of the transaction have not been released.
Saavi has a geographically diverse 2.2 net GW portfolio of six CCGTs, three compression stations and 65 km of associated natural gas pipelines. Saavi primarily serves the Mexican power market as well as providing reserve capacity for specified markets in California.
GIP’s acquisition of Saavi follows its investment in the Company’s USD325 million Secured Term Loan in 2020, which will be repaid as part of this transaction, and marks GIP’s first direct equity investment in Mexico. GIP focuses on control and co-control infrastructure investments in its core sectors. The significant need for infrastructure provision in developing markets presents opportunities for GIP to further extend its operating expertise, sector knowledge and ESG focus across these emerging global economies.
Source: Private Equity Wire
