Deals
China Power Giant Makes Foray Into Mexican Renewables With Zuma
- Deal lets SPIC expand in Latin American clean energy market
- SPIC entering Mexico at complicated time for renewables
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China’s State Power Investment Corp. is expanding in Latin America’s clean-energy market by acquiring Mexico’s largest independent renewables company.
The energy giant known as SPIC bought Zuma Energia through its Hong Kong-based unit China Power International Holding, according a press release provided by a spokesperson for Zuma. He didn’t disclose the price. SPIC has more than $170 billion in assets across 41 countries, including wind, solar and hydropower projects in Brazil and Chile.