Jan 21 2010
Globeleq Generation Limited, a leading power company, has acquired a 70% controlling stake in Energias Renovables de Mesoamerica S.A. (ERM or Mesoamerica Energy), a leading developer, owner and operator of wind energy projects in Central America.
ERM is currently developing the Cerro de Hula wind energy project with a capacity of 100 MW in Honduras. The company owns and operates another wind energy facility in Tilaran, Costa Rica with a rated capacity of 23 MW. In addition, the company possesses the rights of many potential renewable energy projects in Central America.
Mikael Karlsson, Globeleq's CEO, said the acquisition of ERM is consistent with its strategy of providing clean energy from sustainable, affordable and renewable sources. He commented that the company is poised to take advantages of several opportunities to develop its renewable and sustainable businesses with the addition of ERM’s portfolio and expertise.
Globeleq Generation will own a 70% stake in ERM from business groups in Central America that is represented by Mesoamerica. This private equity firm is the leading M&A advisory, strategic consulting company in the region. Current shareholders of ERM will continue to hold the remainder of shares.
Luis Javier Castro, Managing Partner of Mesoamerica, hoped that the partnership with Globeleq Generation will allow it to continue its goal for providing clean energy in a competitive manner.
Jay Gallegos, CEO of ERM, said the expertise, investment and resources of Globeleq, Mesoamerica and ERM are combined to provide reliable, clean and renewable technologies to the Central American region.
Source: http://www.globeleq.com