Global Infrastructure Partners announces guaranteed term loan for Saavi Energia, the largest private autonomous generator set in Mexico
NEW YORK, September 29, 2020 / PRNewswire / – Global Infrastructure Partners (GIP), a leading independent global infrastructure investor, today announced that GIP Spectrum Fund, LP, along with its affiliates and co-investors, have closed a $ 325 million Guaranteed term loan for Saavi Energia (“Saavi”), the fourth largest independent power producer and the largest private autonomous power producer in Mexico.
With this transaction, GIP Crédit is committed $ 550 million in Latin America through four investments over the past two years. GIP Spectrum provides personalized credit financing to infrastructure issuers in GIP’s key sectors of mid-level energy, power, renewable energy and transportation, while leveraging GIP’s significant operational expertise.
With more than 20 years of experience in the Mexican electricity market, Saavi’s net 2.2 GW portfolio consists of 10 energy installations, including 6 CCGTs, 1 wind farm, 3 compressor stations and 65 km of associated gas pipelines. Saavi is 100% owned by Actis LLP.
One of the largest recent holding company term loans in the Latin America infrastructure sector for a private sponsor, GIP Credit’s investment is supported by a large portfolio of quality electricity contracts with high quality counterparties. The assets are strategically located near high demand industrial consumption centers and supported by an attractive macroeconomic backdrop of Mexican electricity demand as well as positive demographic trends. Saavi also has a first-rate management team and an exceptional operational record.
“We are very happy to have concluded this strategic transaction with Saavi and its sponsor Actis”, declared Jennifer Powers, GIP Partner and Chairman of GIP Crédit. “As a leading power producer with a strong portfolio of assets and a leading management team, Saavi continuously provides reliable services essential to the Mexican electricity markets. We look forward to working with and supporting the growth of such an impactful business in the This investment demonstrates GIP Spectrum’s ability to provide unique lending solutions for high quality critical infrastructure projects, and to be a partner. reliable and flexible.
“We are delighted to join our commitment to support the region with an exceptional partner who has been able to provide a bespoke and creative financing solution to meet our needs,” said Mauricio del Valle, Chief Financial Officer of Saavi. “This transaction highlights the strength and diversity of Saavi’s portfolio. We are excited about the opportunity it offers to create value and consolidate Saavi’s leadership position in our market.
About Global Infrastructure Partners
Global Infrastructure Partners (“GIP”) is an independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and companies. The GIP targets investments in the energy, transport and water / waste sectors both in OECD countries and in some emerging countries. The GIP teams are spread over 10 offices: London, new York, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Bombay, Delhi, Singapore and Hong Kong. GIP’s Credit Platform (“GIP Credit”) provides financing solutions and makes debt and non-common equity investments in infrastructure assets and corporations through several funds, including GIP Spectrum and GIP Capital Solutions (“CAPS”). For more information visit www.global-infra.com.
SOURCE Global Infrastructure Partners