Chile, the world’s top copper producing nation, has a problem: A lack of energy.
But an emerging markets-focused private equity firm, Actis, and Mainstream Renewable Power, say at least part of the answer is, literally, blowing in the wind.
They have teamed up to create Aela Energia, which will build five wind and solar plants across Chile to provide 600 MW of power (450 MW from wind and 150 MW from solar) within the next three years. Total investment is $1.4bn, including debt, of which Actis will put up $290m and Mainstream is putting in $170m. Read more
Fancy a bit of east African power? Umeme, the Ugandan power company, was successfully floated on Friday by Actis, a private equity group. So far, it’s been a hit, with the IPO oversubscribed and shares jumping 9 per cent on Monday.
But despite the investor thumbs-up, the stock is already rated by one analyst as a sell. Read more
Actis, the UK-based emerging markets private equity company, on Tuesday confirmed it had closed a second African real estate fund totalling $278m.
It is nearly double the size of its first real estate Africa fund, which closed in 2006, and aims to catch the wave of urbanisation and rising middle class incomes in sub-Saharan Africa. Read more
Actis, the emerging markets private equity fund, has invested $32m in Asiri Hospital Holdings, a private hospital chain in Sri Lanka with five hospitals under its umbrella.
Asiri will use the proceeds to buy out minority shareholders in some of those hospitals as it prepares for further expansion in the country. The deal again underlines Sri Lanka’s appeal to foreign investors, attracted by sustained GDP growth of 7 per cent a year against a backdrop of economic downturn in the west. Read more