Energy-focused private equity firm Denham Capital has made an initial USD 250m commitment to Latin American power generator Ceiba Energy, the company said in a 13 January press release.
The commitment from Denham’s International Power Fund will help Ceiba develop, build and acquire multiple renewable and low-carbon projects across the region.
“Ceiba looks for countries with stable regulatory frameworks where its management team has deep local knowledge and previously owned assets. Ceiba’s target markets include Mexico, Colombia, Brazil, Chile, Panama, and Peru,” according to the Denham release.
Ceiba has to date invested in one energy project, the Portocem LNG-to-Power Development in northeastern Brazil.
The project, which is a joint venture with fellow Denham Capital company Rio Energy, is an early-stage combined-cycle power plant and LNG import facility to be built at the Pecém Industrial and Port Complex in Ceará state.