| Venture to initially target renewable energy assets across Latin America, MENA regions
LONDON - Thursday, September 24th 2015 [ME NewsWire]
(BUSINESS WIRE)-- Denham Capital, a leading global energy-focused private equity firm, announced today a partnership with Jenner Renewables. The Madrid-based independent power producer will develop, finance and construct renewable power generation assets globally. Initially, the company will focus on selected countries in Latin America, the Middle East and North Africa.
“We are very excited to partner with Denham Capital, a firm that not only brings capital to our efforts but also provides a deep global industry network and a wealth of knowledge in the power sector,” said Jorge Calvet, the Founder and Chief Executive Officer of Jenner Renewables. “This partnership will allow us to begin developing wind, solar and small hydro projects in countries where we see a clear need for this type of power generation.”
Prior to founding Jenner, Calvet served as the Chief Executive Officer of Gamesa, one of the largest wind developers and manufacturers in the world. Jenner's senior leadership also includes former executives of Gamesa and other leading entities in the field of renewable energy. The team has collectively developed more than four gigawatts of wind and solar projects globally with an enterprise value of $4.5 billion.
The investment bolsters the Denham Power team’s Latin American presence, joining Brazil’s Rio Energy, a renewables company which now has 54 megawatts of operational assets and more than 200 megawatts of assets in construction across the region.
“This investment allows us to expand our reach in Latin America, a region where we see a big demand for power generation and an attractive opportunity for renewable power. At the same time, it creates a global platform that will allow us to execute in other geographies where wind can effectively compete with the current cost of power and provide an economic source of generation,” noted Scott Mackin, Managing Partner and Co-President at Denham Capital. “We are very happy to work with Jorge and the Jenner team. Their global experience and track record is outstanding, and I have no doubt their skills will allow us to execute successful investments and bring needed power generation capacity to Latin America and other places around the world.”
About Jenner Renewables
Jenner Renewables is an independent power producer focused on the development, financing, construction and divestment of renewable infrastructure assets across Latin America. Jenner is headquartered in Madrid, with a local presence and extensive network across Latin America. Jenner is managed by a team of industry veterans who average more than fifteen years of experience, having held the most senior positions at leading renewables companies. For more information about Jenner, please visit www.jenner-renewables.com.
About Denham Capital
Denham Capital is a leading energy and resources-focused global private equity firm with more than $7.9 billion of invested and committed capital across seven fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving power generation, oil and gas, and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150924005300/en/
Contacts
Pierpont Communications
Sylvester Palacios, +1 512-448-4950
spalacios@piercom.com
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