Actis bags US$1.23bn for new clean energy investment fund

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ALLIF wants to invest in the El Pelicano PV plant, which Actis purchased from SunPower in Jan. 2018. Source: SunPower

London-based renewables investor Actis has raised US$1.23 billion for a new investment fund destined for existing infrastructure assets in emerging markets, starting with its own 100MW PV plant in Chile.

The Actis Long Life Infrastructure Fund (ALLIF) is already eying a pipeline of US$8 billion and committed to investing in Brazilian wind assets and the Actis-owned El Pelicano PV plant in the Atacama region of Chile, according to a company release.

Actis purchased the 100MW plant from SunPower, which continues to maintain and operate the installation, in January 2018. The farm is contracted to provide power to the Santiago metro system.

The new fund can deploy a total of US$2 billion in funding, according to the company. It will be spearheaded by Glen Matsumoto, head of infrastructure projects at Actis, and has been backed by investors from North America, Europe, Latin America, Middle East and Asia.

Actis spun off from the CDC Group, a UK government-backed development finance institution targeting the Commonwealth, in 2004. It claims to have sunk more than US$5 billion into 25GW of total energy capacity to date.

Actis' portfolio company, Atlas Renewable Energy, landed a long-term PPA agreement with utility Engie Energía, which will help support the development of a 230MW-plus solar farm in Chile, in mid-August.

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