Apan and PASH to invest $1 billion in LATAM renewables
Apan Energy Services, a clean energy impact investor, has formed a joint venture with London-based energy transition investor PASH Global Management (PASH) and targeting £1 billion investment in the Caribbean and Latin America over the next five years.
Apan Energy Services in collaboration with PASH Global comprises a highly experienced management and technical team with extensive development and execution expertise including involvement in over £100bn in energy and infrastructure transactions. The executive team brings a wealth of knowledge in project finance, private equity, engineering, construction, operational and maintenance experience.
The partnership combines Apan Energy's local knowledge and expertise in origination and project development with PASH Global's knowhow in the engineering, construction, operation, financing and hybridisation of renewable energy systems. The UK partner already operates energy producing solar plants in Africa and Latin America.
Chief Executive Officer of Apan Energy Services, Akaash Panday, said: "The world is changing, and our company desires to be part of that creative change. The battle today with climate change is a wake-up call for us to act. Our venture allows for the implementation of sustainable energy security via renewable sources resulting in a shift from HFO's (Heavy Fuel Oils) to carbon neutrality to eventually becoming net zero. This would further create employment opportunities as well we stimulate economic growth through foreign direct investment."
Kofi Owusu-Bempah, CEO & Managing Partner of PASH Global, said: "PASH is committed to energy diversification and sustainability globally by building additional capacity in renewables across the Caribbean with a strong and credible partner such as Apan Energy Services."
This joint venture initiative is timely. UN Secretary-General Antonio Guterres commented on a recently released report by the Intergovernmental Panel on Climate Change (IPCC) stating that it is "a code red for humanity".
Apan Energy Services is determined to be a global leader in the renewable resources sector. The group plans to identify, finance, construct and operate power generation projects. This creates direct/indirect jobs facilitates via Foreign Direct vestment (FDI), lowers the carbon footprint and provides sustainable energy security.
Patria Investments, a global alternative asset manager and leader in the sector in Latin America, recently announced the beginning of operations of Sol do Sertao Photovoltaic Complex (or Sol do Sertao Solar Power Plant), in Oliveira dos Brejinhos (Bahia State, Brazil), 300 miles from the State capital, Salvador.
With an investment of R$ 1.4 billion ($250 million) and a capacity of 475 MWp, the project was developed by Essentia Energia, a Patria Investments company dedicated to the renewable energy sector, with a focus on solar and wind power.