Actis has sold Saavi Energía, the fourth largest independent power producer and the largest privately held stand-alone power generator in Mexico, to Global Infrastructure Partners (GIP).
Saavi has a geographically diverse 2.2 net-gigawatt portfolio of six CCGTs, three compression stations and 65 kilometers (40 miles) of associated natural gas pipelines. Saavi primarily serves the Mexican power market and provides reserve capacity for specified markets in California.
GIP focuses on control and co-control infrastructure investments in its core sectors. This marks the company’s first direct equity investment in Mexico.
“Partnering with a global leader in infrastructure investing is an exciting opportunity to deliver on Saavi Energía's strategic vision for growth to help meet Mexico's energy needs,” said Jaime Tupper, CEO of Saavi Energía. “During the last three years, we have transformed the company into an independent, Mexican leader in the energy space