SunEdison Inc., the best-performing U.S. solar company, acquired renewable energy developer Latin American Power from Brazil’s BTG Pactual Asset Management and its partners.
Latin American Power, known as LAP, has 119 megawatts in hydroelectric and wind energy projects operating in Peru and Chile, BTG Pactual said in an e-mailed statement Thursday. The value of the transaction wasn’t disclosed by the companies.
Santiago-based LAP also is building a pair of wind and hydroelectric projects for a total of 214 megawatts in Chile.
BTG Pactual partnered with investment fund P2 Brasil and Brazilian GMR Energia to acquire LAP in 2012.
Press officers for SunEdison, LAP and BTG Pactual didn’t immediately respond to e-mail and phone requests for comment.
SunEdison has gained about 59 percent over the past year, the most of any U.S. company on the 21-member Bloomberg Intelligence Global Large Solar Energy Index.
Earlier this month the Maryland Heights, Missouri-based company announced the purchase of 757 megawatts of wind, solar and hydro assets in developing nations, including Brazil, Peru, South Africa and Uruguay.
SunEdison is buying a 16 percent stake in Renova Energia SA, Brazil’s second-largest developer of clean-power projects.