January 13, 2020 / 9:05 AM / 5 days ago

Denham Capital invests $250 million in power company Ceiba Energy

SAO PAULO (Reuters) - Private equity firm Denham Capital has agreed to invest $250 million in Ceiba Energy, an owner and developer of power generation assets in Latin America, the two companies said on Monday.

The investment is aimed at allowing Ceiba to expand its portfolio of power projects in the region, where it currently controls over 50 installations including renewable and gas-fired power plants, the companies said in a statement.

Ceiba expects to boost its businesses in countries where its management has knowledge of the legal framework and investment environment, or where it already owns assets such as Mexico, Colombia, Brazil, Chile, Panama and Peru.

It said it plans to grow through a combination of acquisitions, development of new projects or modernization of existing installations.

Denham Capital is a global private equity firm focused on energy, with $9.3 billion invested across nine fund vehicles. The company said it plans to be one of the leading investors in the Latin American power sector, which is expected to grow more than the global average in coming years.

(This story corrects paragraphs 2 and 3 to clarify that Ceiba does not own all the 50 power projects)

Reporting by Marcelo Teixeira; editing by Richard Pullin

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