ACON Investments closes the sale of Hidrotenencias
ACON Investments through its third Latin American-focused private equity fund, ACON Latin America Opportunities Fund, L.P. and ACON Latin America Opportunities Fund-A, L.P., has completed the sale of its portfolio company, Hidrotenencias, to EnfraGen Spain, a subsidiary of Glenfarne Group.
ACON invested in Hidrotenencias in partnership with the founding shareholders, who remained as minority investors and operating partners. During ACON's investment, Hidrotenencias tripled its installed capacity, secured long-term PPAs, engaged in regional energy trading and obtained financing in the public markets through a series of bond offerings.
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