InterEnergy Group acquires three wind farms in Uruguay
This is the first operation of InterEnergy Group in Uruguay, a leading country in wind power generation in Latin America.
Renewable assets represent 30% of InterEnergy Group generation assets, totalling 400MW of capacity.
The transaction included the acquisition of three trusts, each owning one 10 MW wind farm, that have long-term power purchase agreements with the National Administration of Power Plants and Electric Transmissions (UTE by its Spanish acronym).
Montevideo. InterEnergy Group, an energy solutions provider with assets in the Dominican Republic, Panama, Jamaica, and Chile, announced the acquisition of three Uruguayan trusts each owning 10 MW wind farms located in Uruguay. The wind farms, named María Luz, Villa Rodríguez and Rosario, have an integrated operational capacity of 30MW, the entirety of which are secured by take or pay long-term power purchase agreements with UTE through 2039.
With this transaction, InterEnergy advances its environmental goals and contributes to the Sustainable Development Goals (SDG) of the United Nations, with special focus on the 7th goal, providing affordable and non-polluting energy through the development and financing of 100% renewable energy projects. Deloitte, who advised the entire operation from due diligence to closure, underlined its success, particularly when considering the atypical structure of these wind farms prior to the acquisition.
“We are proud to enter a leading country in wind power in Latin America,through an operation that positions us as a leading group in renewable energy generation in the region,” stated Rolando González Bunster, Chairman and CEO of InterEnergy Group. With a solid tradition in the renewables market, Uruguay provides a security framework for the investor.
“The group is taking its first step in a country where there is track record of renewable energy projects and we will continue to advance our investments in the region,” said Andrés Slullitel, CFO of InterEnergy Group.
“With this transaction we continue with our objective of promoting the consolidation of clean and diversified energy generation, as part of our commitment with the sustainable development of the five countries in which we operate”, concluded Mónica Lupiañez, Director of Renewables and Country Manager of InterEnergy Group Panama.