ACON Latin America Opportunities Fund, a private equity fund managed by an affiliate of ACON Investments has acquired a controlling stake in Panama-based Hidrotenencias. ACON led a consortium of co-investors including the Netherlands Development Finance Company and Société de Promotion et de Participation pour la Coopération Economique. Hidrotenencias owns three hydroelectric projects located in the Chiriqui province, western Panama, with a total capacity of 30MW.
Woodbridge International is pleased to announce it represented Panama-based Hidrotenencias S.A. in connection with a controlling stake investment by ACON Latin America Opportunities Fund (“ALAOF”), a private equity investment fund managed by an affiliate of ACON Investments LLC.
Hidrotenencias currently owns three run-of-the-river hydroelectric projects located in the Chiriqui province, western Panama, with a total capacity of 30MW. Each of these power plants has an installed capacity of 10MW. Its first plant started operations and has been generating since 2008, while two new plants are expected to start operations by the end of this year. In addition to completing the current projects, the Company has an identified pipeline of renewable energy projects to further grow Hidrotenencias in Panama and other countries in Latin America.
ACON led a consortium of co-investors that included the Netherlands Development Finance Company (Dutch development bank) and Société de Promotion et de Participation pour la CoopérationEconomique (French development bank). ACON has made a number of investments in the energy sector and has been active in Latin America since 1996. ACON has offices in Washington D.C., Los Angeles, Mexico City, Sao Paulo and Madrid.
Woodbridge Group LLC, d/b/a Woodbridge International, was founded in 1993 and is an innovative middle-market M&A firm headquartered in New Haven, CT. The firm serves clients from its eight North American offices and locations in the Netherlands, Mexico, Argentina, Brazil and Honduras.