Globeleq Generation Ltd has extended its portfolio with the purchase of a majority interest in a Central America-based renewable energy company.
Globeleq, which describes itself as an emerging markets power company, has sealed a deal to buy a 70 per cent controlling stake in Energias renovables de Mesoamerica S.A. (ERM), which develops, owns and operates wind energy projects. It will buy the stake from a number of “prominent” business groups in Central America, according to a statement released on January 19th.
“This is a very exciting acquisition for Globeleq. Wind power provides a clean, reliable and affordable alternative source of electricity generation and is an integral part of our strategy,” said Mikael Karlsson, Globeleq’s CEO. “The addition of ERM’s expertise and portfolio to the company positions us for further opportunities to develop sustainable and renewable energy businesses, enabling us to bring essential power to Central America and beyond.”
ERM owns and operates the 23 MW Tilaran wind farm in Costa Rica and is currently developing a 100 MW wind project in Honduras. It also owns the rights to develop several other renewable energy projects in the region.
