GIP has strategically enhanced its partnership with AES Andes, acquiring an additional 49% stake in a 693 MW renewable energy portfolio in Chile. This $441mn acquisition propels the GIP-AES Andes collaboration to over 1.4 GW in total capacity.
π° Deal Breakdown: AES Andes will initially receive $333mn, with the remainder contingent on predefined conditions. This follows a similar $441mn deal for a 734 MW portfolio, announced in Julβ21.
π± AES Andes’ Perspective: The capital influx will fuel their renewable energy expansion in the coming years, as part of the Greentegra strategy.
π GIP’s Strategic Vision: This acquisition aligns with GIP’s investment focus in emerging markets across Latin America and Asia, leveraging their $5bn Emerging Markets Fund I.