LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • #changetheratio
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • #changetheratio
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Actis Exits Mexican Renewable Energy Company Zuma Energía to China’s SPIC

November 19, 2020

China’s State Power Investment Corp., through its Hong Kong-based unit China Power International Holding Limited, has acquired Mexico-based renewable energy company Zuma Energía from Actis for an undisclosed amount.

(Bloomberg Green) China’s State Power Investment Corp. is expanding in Latin America’s clean-energy market by acquiring Mexico’s largest independent renewables company.

The energy giant known as SPIC bought Zuma Energia through its Hong Kong-based unit China Power International Holding, according a press release provided by a spokesperson for Zuma. He didn’t disclose the price. SPIC has more than $170 billion in assets across 41 countries, including wind, solar and hydropower projects in Brazil and Chile.

The deal marks SPIC’s first move into Mexico and comes at a complicated time for the country’s renewable-energy industry. Under the administration of President Andres Manuel Lopez Obrador, the nation has stepped up its defense of state energy producers Petroleos Mexicanos and Comision Federal de Electricidad by attempting to crack down on private competition. Still, SPIC is bullish on Mexico’s prospects.

The purchase “signifies our continuous commitment and support for clean and renewable power generation, as well as confidence in the Mexican economy,” Chairman Qian Zhimin said in the statement. Zuma “will radiate operational and investment support to nearby countries.”

The company is joining a growing trend of Chinese energy companies buying Latin American assets that include logistics, services and telecommunications companies. State Grid Corp. of China announced this month plans to buy a Chilean electricity network company for 2.57 billion euros ($3 billion).

The Zuma deal is a long-term bet for SPIC. Lopez Obrador and his energy ministry have introduced measures this year to slow private clean-energy generation. While the push has been stalled in Mexican courts following a lawsuit by environmental advocacy group Greenpeace, the appetite for new renewable projects in Mexico has waned.

SPIC’s ambitions likely extend beyond Mexico. With a big new parent, Zuma may be able to expand in the region.

“We have built a robust platform to pursue multiple growth avenues regionally,” Zuma CEO Adrian Katzew said in the statement. “The backing of SPIC will allow us to build on our mission of making a substantial contribution to a global clean energy system.”

Actis Exits Mexican Renewable Energy Company Zuma Energía to China’s SPIC was last modified: November 23rd, 2020 by csantos
ActisAdrian KatzewEnergyglobal clean energy systemGreenpeaceLatin AmericaMexicoPrivate Capitalprivate clean-energy generationQian ZhiminReal AssetsSPICZuma Energia
0
Facebook Twitter Google +

LatAm Venture Bulletin

LatAm Venture Bulletin

The LatAm Venture Bulletin is a must-read roundup of startup deals and news on emerging technologies in Latin America, delivered to over 6,000+ investors, entrepreneurs, and corporates bi-weekly.

Asset Class *


VC Partner Events

    Tweets

    • Join us with @SVB_Financial for the launch of LAVCA’s Annual VC Tech Report for #LATAM, year-end 2020 investment da… https://t.co/pQYVXuEJ9b

      21-Apr-2021

      Reply Retweet Favorite
    • Don’t miss it! LAVCA & @SVB_Financial look forward to hosting you for the launch of our Annual #VC Tech Report for… https://t.co/scOWB5Mjy0

      15-Apr-2021

      Reply Retweet Favorite
    • Read LAVCA's latest deal case study featuring Vinci Partners' investment in 🇧🇷 Brazilian medical diagnostics compan… https://t.co/olfcwMAssh

      14-Apr-2021

      Reply Retweet Favorite
    • Join LAVCA and @SVB_Financial for #VC Trends in #LatAm: A Year Into the Pandemic on April 22 to learn more about se… https://t.co/Scwrpx4tXD

      12-Apr-2021

      Reply Retweet Favorite
    • Great panel on impact investment and development finance in #LatAm with @IFC, @xpinvestimentos, SEAF & LAVCA’s Eman… https://t.co/E8k9d4o08v

      09-Apr-2021

      Reply Retweet Favorite

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to news@lavca.org.

    VC Industry News

    • QED Investors Leads UDD15m Series B for Brazilian Payment Services Provider Hash

      April 20, 2021
    • Cometa (Variv Capital) Leads USD5m Seed Round for Colombian Financial Platform Simetrik

      April 20, 2021
    • Talipot Holdings Leads USD7m Series A for Peruvian Urban Delivery Platform Chazki

      April 19, 2021
    • Oria Capital Reaches BRL500m Final Close for Oria Tech III

      April 18, 2021
    • Homebrew Leads USD3m Seed Round for Mexico-based Installment Loan Platform Nelo

      April 16, 2021
    • MatterScale Ventures and Kayyak Ventures Lead USD3m Pre-Series A for Telemedicine Platform 1DOC3

      April 16, 2021
    • KASZEK Leads BRL16m Seed Round for Brazilian Social Commerce Platform Zapt (em português)

      April 16, 2021
    • Kayak, Fen Ventures, Olivo Capital and Nazar Invest USD2.5m in Chilean Consumer Credit Migrante (en español)

      April 15, 2021
    • Goldman Sachs Asset Management Leads USD23m Series D Extension for E-commerce Olist (em português)

      April 15, 2021
    • Valor Capital Group Leads USD20m Series B for Home Care Platform Beep Saúde

      April 14, 2021
    • ALLVP and Mountain Nazca Lead USD20m Seed Round for E-commerce Holding Wonder Brands

      April 14, 2021
    • DOMO Invests BRL8m in Brazilian Sales Prospecting Platform Ramper (em português)

      April 12, 2021
    • Draper Cygnus Leads USD1m Seed Round in Argentine Crypto Banking Platform Lemon Cash

      April 10, 2021
    • Barn Investimentos, SP Ventures, Continental Grain Company and Provence Capital Invest USD1.8m in Agrolend (em português)

      April 9, 2021
    • D1 Capital Partners, Founders Fund, Ribbit Capital and BOND Lead USD485m Series D in Kavak

      April 7, 2021
    • QED Investors Leads USD12m Series A for Mexican Freight Marketplace Nuvocargo

      April 7, 2021
    • Vostok Emerging Finance, Dunross & Co and Atlant Fonder Invest USD7m in Credit Platform FinanZero

      April 5, 2021
    • Ribbit Capital Leads USD26.7m Round for Brazilian Lending Platform Cora

      April 5, 2021
    • Genesis Ventures Leads USD1.4m Seed Round For Chilean Logistics Platform Mudango

      April 5, 2021
    • Alkeon Capital Leads USD150m Round for Uruguayan Cross-Border Payment Platform dLocal

      April 2, 2021
    • Astella Investimentos Leads BRL6.5m Round for Food Recipe Discovery Platform DeliRec (em português)

      March 31, 2021
    • TCV Leads BRL375m Series C for Brazilian Course Monetization Platform Hotmart (em português)

      March 30, 2021
    • Confrapar Leads USD2m Series A for Brazilian Private Aviation Platform Flapper (em português)

      March 30, 2021
    • Mountain Nazca Leads USD2.3m Round for Mexican E-Commerce Platform Meru (en español)

      March 26, 2021
    • Mercado Libre, Globant and Riverwood Capital Invest USD50m in Argentine Edtech Digital House

      March 25, 2021
    • IFC and Goldman Sachs Lead BRL150m Round for Personal Credit Platform Open Co (em português)

      March 24, 2021
    • D1 Capital Leads USD425m Series D for Brazilian Proptech Loft

      March 23, 2021
    • FTV Capital Leads BRL190m Series B for Brazilian Corporate Trust Platform Vortx (em português)

      March 23, 2021
    • DILA Capital Files for USD50m SPAC in the NASDAQ

      March 18, 2021
    • Adobe Capital Makes Undisclosed Investment in Chilean Pre-Owned Cellphone Platform Rephone (en español)

      March 17, 2021
    • XP Asset Management Invests BRL50m in Convertible Debt in Brazilian Credit Platform Acqio (em português)

      March 12, 2021
    • Iporanga Ventures Leads BRL2.8m Round for Brazilian Complaint Resolution Platform Voe Tranquilo (em português)

      March 10, 2021
    • General Catalyst Leads BRL3.5m Round for Mexican Corporate Expense Platform Clara

      March 10, 2021
    • Canary Leads BRL3.6m Round for Brazilian On-Demand Sales Talent Platform Cloud Humans (em português)

      March 10, 2021
    • Astella Investimentos Invests BRL8m in Brazilian Healthtech Consultation Platform Assina Saúde (em português)

      March 10, 2021
    • Astella Investimentos Invests BRL7m in Brazilian Fintech Sled (em português)

      March 5, 2021
    • Canary Leads USD1.5m Round for Financial Education and Savings Platform Flourish (em português)

      March 4, 2021
    • Leo Capital, FJ Labs, alpha4 Ventures, and Meesho Invest USD6m in Colombia Social Commerce Elenas

      March 4, 2021
    • SoftBank Invests in Brazil-based UOL EdTech (em português)

      March 4, 2021
    • FinTech Collective Leads USD14m Series A for Mexican Payroll Platform minu

      March 3, 2021
    • CapSur Capital Leads ~USD205m Round for Delivery Logistics Platform Loggi

      February 28, 2021
    • Lightspeed Ventures Leads USD32.5m Series B for Mexican Credit Card Issuer Stori

      February 25, 2021
    • Banco BV Invests BRL100m in Brazilian Credit Platform Trademaster (em português)

      February 24, 2021
    • IDC Ventures and Fuel Venture Capital Lead USD70m Series C for Mobile Payments Platform RecargaPay

      February 24, 2021
    • Angel Ventures and Mountain Nazca Lead USD4.2m Series A for Chilean Debt Collection Colektia (en español)

      February 23, 2021
    • Arlon Group and FitPart Invest US$18.5m in Brazilian Logistics Solutions Sotran (em português)

      February 19, 2021
    • Base10 Capital Partners Leads US$7.8m in Mexican Lending Platform Mundi (en español)

      February 18, 2021
    • Alaya Capital Partners Leads US$1.2m Round in Accounting and Legal Management Platform Backstartup (en español)

      February 17, 2021
    • Movile Leads Series A Investment in Argentine Last-Mile Delivery Platform Moova (en español)

      February 12, 2021
    • DOMO Invest Invests R$3.5m in Brazilian Edtech Digital Innovation One (em português)

      February 11, 2021
    • Astella Investimentos Invests R$8m in Brazilian Omnichannel Marketing Platform bornlogic (em português)

      February 11, 2021
    • Proeza Ventures Leads ~US$6m Series A in Spain-Based Logistics Management System BusUp (em português)

      February 11, 2021
    • ThornTree Capital Partners Leads R$180m Series B in Brazilian Healthcare Provider Alice (em português)

      February 11, 2021

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Offices

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    LAVCA Also Has a Regional Presence in:

      Washington, D.C.
        

        Silicon Valley:
        San Francisco, CA

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top