AEI Acquires Controlling in Nicaraguan Wind Farm

AEI announced today the acquisition of a 47.5% interest in the Amayo I and Amayo II wind power projects from Arctas Capital Group, L.P., in addition to the acquisition of a 47.5% interest in the Amayo II project from Centrans Energy Services Holdings, Inc. AEI, together with its long-standing partner Centrans, now controls 95% of Amayo I and Amayo II, with local partner Energia Eolica de Nicaragua S.A. owning the remaining 5% of each project.

"AEI is excited to be adding our first renewable energy project to our portfolio of consolidated power generation assets," said Jim Hughes, CEO of AEI. "This project adds competitively priced and much needed electricity to the local power grid, and also serves to complement our existing thermal power generation assets in Nicaragua. We strive to bring the best energy solutions to our customers and are delighted to be adding an energy source that does not rely on imported fuels."

The Amayo I wind farm currently operates 19 Suzlon S88-50HZ 2.1 MW wind turbines, producing a total of 39.9 MW of electricity. The Amayo II project is currently producing power and has been commercially operational since May 1, 2010. The Amayo II project adds 11 more of the same Suzlon turbines to produce an additional 23.1 MW of power, resulting in total output of 63.0 MW of installed capacity. The wind farm is located in Rivas, in a prime wind location with access to transmission lines along the southwest Pacific coast of Nicaragua. The Amayo I and Amayo II output is fully contracted under long term 15 year PPA’s with the local power distribution companies Dissur and Disnorte.

AEI owns and operates essential energy infrastructure businesses in emerging markets diversified across four core business segments – Power Distribution, Power Generation, Natural Gas Transportation and Services, and Natural Gas Distribution – within five regions – Andean, Southern Cone, Central America/Caribbean, China, and Europe/Middle East/North Africa. AEI and its 15,400 employees serve more than 7.4 million customers worldwide, with approximately 26,500 miles of gas and liquids pipelines, 121,000 miles of power distribution and transmission lines, and 2,277 MW of installed power generation capacity. 

Centrans Energy Services, Inc., a member of the Centrans Group of Companies (whose headquarters are in Guatemala City, Guatemala), develops, owns and operates power generation projects to provide needed electricity to the countries in the Central American region. It currently has investments in four power plants, mainly in Nicaragua, two of which are wind power projects. The other activities of the Centrans Group are related to shipping, port and terminal (liquid and dry bulk) related ventures.

Arctas is a privately-held project development, principal investment and advisory firm with a focus on energy-related opportunities. Arctas is headquartered in Houston, Texas and maintains operations in Latin America and Asia.