Domincan Republic based InterEnergy has acquired stakes in power plants in Panama and Jamaica from Latin Power III, a $392m private equity fund managed by Conduit Capital Partners.
InterEnergy has bought 55% ownership in 55MW Pedregal diesel plant located in Pacora, Panama, and 100% interest in Jamaica Energy Partners and West Kingston Power Partners, from Latin Power III.
Jamaica Energy Partners and West Kingston Power Partners collectively operate three plants which have a combined power generation capacity of 190MW, supply 30% of the electricity consumed in the island of Jamaica.
Conduit Capital Partners managing partner George Osorio said: "The sale of these highly performing plants in Jamaica and Panama is consistent with our commitment to maximize value for our investors.
"The next stage of our process will be the sale of our operating renewable plants (a 35 MW hydro and 22 MW wind power plant) in Mexico which will begin in the coming months."
The transaction terms were undisclosed.
Rolando InterEnergy chairman Gonzalez Bunster said: "This transaction demonstrates InterEnergy’s commitment to growing our presence in markets where we already have a footprint, and also confirms our strategy of growing into new markets and diversifying our portfolio."
InterEnergy, which has more than 900MW of installed capacity, has operations in Dominican Republic, Panama, Jamaica and Chile.