Emerging markets investor Actis has sold the Brazilian renewable energy business Atlantic Energias Renovaveis to an unnamed buyer for an undisclosed amount.
Actis acquired 60% of Atlantic Energias Renovaveis in September 2013 and consolidated its ownership position to 100% in 2016, with the acquisition of the shares held by minority shareholders Pattac and Servinoga.
Atlantic has grown to own wind power capacity totalling 642MW from 220MW since Actis first invested in the Brazilian outfit.
Actis director of energy Bruno Moraes said: “Brazil’s wind resources are among the best in the world and Atlantic’s wind farms are among the most productive in Brazil.
“We are proud of what we have achieved over the last six years growing the business and delivering a platform including four wind farms with a combined output of 642MW.”