Actis Closes $600 Million MTerra Fund to Bolster Solar Energy in Latin America
Actis, a leading global investor in sustainable infrastructure, has successfully closed its MTerra Fund at $600 million—a renewable energy platform focused on investing in solar energy assets in Latin America.
MTerra: A Strategic Platform for Latin American Solar
Established as a Luxembourg Reserved Alternative Investment Fund (RAIF), the MTerra Fund will acquire, develop, and operate a portfolio of solar power generation assets in Latin America, with an initial focus on Brazil. The fund is part of Actis’ broader strategy to create regional renewable energy platforms that accelerate the global energy transition and support clean energy markets.
Strong Institutional Backing and Early Growth
The fund drew commitments from several of the world’s largest institutions, including the US International Development Finance Corporation, the International Finance Corporation, and leading European and Asian investors. Actis has a similar structure in Asia, known as Noasis, which targets investments in Northeast Asia.
Launched in 2022 with a seed portfolio in Brazil, the MTerra Fund plans to expand its investments across Latin America. Since its inception, the fund has added 600 megawatts of new solar capacity in Brazil, including the acquisition of a 200-megawatt solar plant in Ceará from Atlas Renewable Energy.
Driving the Energy Transition in Latin America
Actis, which has been investing in Latin America since 2004, sees the MTerra Fund as a significant step in promoting the energy transition in the region. The company has already been involved in several major renewable energy projects, including the development of some of the region’s largest solar power plants.
Lisa Pinsley, Partner and Head of Energy Infrastructure for the Americas at Actis, said: “Latin America is a key region for Actis, and we are very excited about the opportunities to accelerate the energy transition in the region. We believe the MTerra Fund will play an important role in this process.”
The MTerra Fund is Actis’ latest initiative to expand its renewable energy portfolio in Latin America, building on other successful platforms the company has developed in the region, including Zuma EnergĂa in Mexico, Atlas Renewable Energy, Aela EnergĂa in Chile, and Echoenergia in Brazil.
Expanding Solar Capacity in Brazil and Beyond
The MTerra Fund is poised to play a key role in expanding Actis’s renewable portfolio, with a focus on solar power—a critical component of the region’s energy transition. In doing so, the fund will also contribute to Brazil’s ambitious targets for increasing its solar capacity and growing the share of renewables in its national energy mix.
This regional focus reflects a broader global interest in renewable energy projects, such as the Terra Solar Project in the Philippines. The $3 billion initiative by Terra Solar Philippines includes a 3.5GW solar photovoltaic plant and a 4.5GWh battery energy storage system, underscoring the importance of global partnerships in achieving clean energy goals.
