Infrastructure investment manager InfraRed Capital Partners has announced the sale of its stake in the 216-MW Jaguar Solar portfolio in Mexico to Mexican independent power producer Zuma Energia. The financial details of the transaction were not disclosed.
The Jaguar Solar portfolio consists of six operational solar farms situated in Mexico's Chihuahua desert. InfraRed initially invested in the project in 2017 in collaboration with Mexican financial holding company INVEX Controladora SAB de CV. In April 2022, private equity fund manager Ainda acquired a minority stake in the portfolio.
In August 2023, INVEX made the decision to divest its remaining 25.7% stake in Jaguar Solar, following two prior transactions that involved selling smaller interests.
Stephane Kofman, Head of Capital Gain Funds at InfraRed, highlighted the success of their investment in Jaguar Solar, stating, “We drew on our deep experience in renewables and greenfield development to support the successful establishment of Jaguar Solar, which was created shortly after the Mexican energy sector was opened for private investment. We worked closely with the company to navigate various regulatory challenges, and ultimately this transaction validates the fundamentals of our investment thesis.”
The sale marks another significant development in the evolving landscape of renewable energy investments, reflecting the ongoing growth and maturity of the private energy sector in Mexico.
