Conduit Sells Inelec

Conduit Capital Partners has sold its 70% stake in Inelec, a portfolio of three hydroelectric power plants in Western Mexico, to Enel SpA. The deal is valued at $156 million, which puts Inelec's enterprise value at $193 million. BNP Paribas advised Conduit on the sale.

Conduit Capital Partners LLC, a private equity investment firm focused on the independent electric power and energy industry in Latin America and the Caribbean, today announced the sale of Latin Power II's 70% stake in Inelec, a portfolio of three hydroelectric  power plants in Western Mexico that together generate 52 MWs of energy.  Enel Investment Holding, B.V., a wholly-owned Dutch subsidiary of Enel S.p.A, the global utility, purchased the plants for $156 million equity value ($193 million enterprise value).  BNP Paribas acted as exclusive financial advisor to Conduit and its local partners on the sale.

The projects employ state of the art technology and are built downstream from pre-existing irrigation dams, allowing them to generate electricity with extremely low environmental impact while at the same time generating carbon reduction credits which are sold on the international market.  Conduit and its partner in Inelec, Corporaci