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					</table><p>Sustainable infrastructure investor <a href="https://www.act.is/" target="_blank" rel="noopener">Actis</a> has agreed to sell the entirety of BTE Renewables (<a href="https://bterenewables.com/" target="_blank" rel="noopener">BTE</a>) to France-based energy firm <a href="https://www.engie.com/en" target="_blank" rel="noopener">ENGIE</a> and global investor and asset manager <a href="https://www.meridiam.com/" target="_blank" rel="noopener">Meridiam</a>. Upon completion of the transaction, ENGIE will acquire BTE’s South African renewable project portfolio and team, while Meridiam will take ownership of the Kenyan portfolio and team.</p>
<p>In 2017, Actis established a pan-African renewable energy platform by acquiring the Kipeto wind project in Kenya during its development phase. The platform expanded in 2019 with the acquisition of BioTherm Energy, a company focused on South Africa, which was subsequently rebranded as BTE.</p>
<p>BTE primarily focuses on utility-scale wind and solar projects across the pan-African region.</p>
<p>The platform consists of six operational projects, three solar (~218 MW) and three wind (~252 MW) power projects, with a total generating capacity of approximately 500 MW. Five of the projects &#8211;  three solar and two wind, are operating in South Africa, and one wind power project is in Kenya.</p>
<p>BTE currently boasts a pipeline of projects under development exceeding 5 GW throughout the region.</p>
<p>ENGIE&#8217;s acquisition of BTE will bring an additional 340 MW of renewable operating assets to the company, including 150 MW of onshore wind and 190 MW of solar photovoltaic.</p>
<p>The acquisition also includes a portfolio of over 3 GW of advanced development pipeline/projects in a growing renewables market. This move strengthens ENGIE&#8217;s presence in South Africa, where the company already operates 1.3 GW of assets, including over 300 MW of renewable capacity.</p>
<p>On the other hand, Meridiam has acquired the operational 100 MW Kipeto Wind Farm located south of Nairobi since July 2021.</p>
<p>Additionally, they are developing the 50 MW Siruai greenfield wind project with storage adjacent to the Kipeto site and are set to become Kenya&#8217;s first battery storage facility. Furthermore, Meridiam has identified opportunities for over 100 MW of additional solar PV projects.</p>
<p>The sale aligns with Actis&#8217; track record of investing in and developing renewable power sectors worldwide. BTE stands as the second-largest diversified regional independent power producer of renewable energy in Africa.</p>
<p>Lisa Pinsley, Partner in the Energy Infrastructure team and Head of Middle East &amp; Africa Energy at Actis, said, “When we established BTE, our intention was to help meet the growing demand for electricity in Africa. Through our investment and experience in doing this globally, we have grown and developed a leading power company with an outstanding team based on the continent and a promising pipeline of projects.”</p>
<p>The transaction follows Actis’ sale of Lekela, the African continent’s largest pure-play renewable energy Independent Power Producer (IPP), earlier in 2023.</p>
<p>Completion of the transaction is expected by Q4 2023, subject to the fulfillment of certain authorizations, including merger control clearance from relevant competition authorities.</p>
<p>Recently Actis <a href="https://www.mercomindia.com/actis-japanese-firm-500-million" target="_blank" rel="noopener">launched</a> Nozomi Energy, a new renewable energy platform, targeting 1.1 GW of onshore wind and solar power generation by 2027 in Japan with an investment of $500 million.</p>
<p>Last November, Actis-backed BluPine Energy <a href="https://www.mercomindia.com/actis-acquires-404-mw-solar-portfolio-atha" target="_blank" rel="noopener">acquired</a> 404 MW of solar assets from Kolkata-based mining company Atha Group. Actis said the acquisition would enable BluPine to support India’s energy transition by targeting 4 GW of portfolio capacity over the next 4-5 years.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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ENGIE and Meridiam to Acquire BTE Renewables from Actis

<p>Sustainable infrastructure company <a href="https://www.atlantica.com/web/en/" target="_blank" rel="noopener">Atlantica</a>, which manages and invests in renewable energy, reported first-quarter (Q1) revenue of $247.5 million, a year-over-year (YoY) decline of 7.6% from $268.1 million in the same period last year.</p>
<p>Atlantica&#8217;s adjusted Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) totaled $173.6 million, a minor YoY increase of 1.4% from $171.2 million in Q1 2021.</p>
<p>The net cash of Atlantica from operating activities amounted to $137.31 million in Q1 2022, a YoY decline of 6.6% from 147.15 million in the same period a year ago.</p>
<p>The company recorded a revenue of $182.10 million from its renewable business in Q1, a YoY fall of 8.7% from $199.67 million in the same period last year.</p>
<p>In Q1, Atlantica&#8217;s renewable energy production along with battery storage systems totaled 1.9 GWh (1,094 MWh), a record YoY surge of 80.5% from 606 GWh in the previous year.</p>
<p><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-34809" src="https://mercomindia.com/wp-content/uploads/2022/05/Picture1-2.png" alt="" width="800" height="554" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2.png 800w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-300x208.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-768x532.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-650x450.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-624x432.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/Picture1-2-600x416.png 600w" sizes="(max-width: 800px) 100vw, 800px" /></p>
<p>The company operationalized renewable energy projects of about 2 GW in Q1, a YoY increase of 28.5 from 1.5 GW in the same period a year ago. Solar contributed approximately 71% to the overall renewable energy produced in the first quarter, while renewable production alone contributed 77% to the overall revenue of Atlantica in Q1 2022.</p>
<p>The company recorded a net loss of $12 million, a YoY fall of 37% compared to $19.1 million in the previous year&#8217;s first quarter.</p>
<p>Referring to the investments and acquisitions in the quarter, the CEO of Atlantica, Santiago Seage, said, &#8220;In the first months of 2022, we have closed or earmarked investments between $140 million and $150 million, including the $57 million in acquisitions. That includes the 63-mile transmission</p>
<p>line we discussed last quarter and two small PV assets in Italy. Additionally, we have between $80 million and $90 million in closed or earmarked investments, including renewable energy projects under construction.&#8221;</p>
<p>Atlantica had <a href="https://mercomindia.com/atlantica-renewables-revenue-2021/" target="_blank" rel="noopener">recorded</a> a revenue of $271.33 million in the fourth quarter (Q4) of 2021, up 11% from $244.52 million in the same period of 2020.</p>
<p>In December 2021, Atlantica South Africa Operations, an indirect subsidiary of Atlantica, was <a href="https://mercomindia.com/funding-and-ma-roundup-belectric-acquired-elevion/" target="_blank" rel="noopener">permitted</a> the acquisition of Abengoa South Africa and the assets of solar company Kaxu CSP by the Competition Tribunal. Through the acquisition, Atlantica procured a 100 MW solar parabolic facility in the Pofadder of Northern Cape.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Atlantica’s Renewable Business Revenue Dips 8.7% YoY to $182.1 Million in Q1 2022

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