Centurion Private Equity has invested $5m in Latin America-based clean energy company Minerco Resources through a flexible equity funding facility that will fund its development of hydroelectric projects.
Centurion has signed an agreement to buy a $5m stake in Minerco, providing the company with an equity funding facility that will allow it to complete the initial phases of the Chiligatoro hydro project in Honduras and other potential future acquisitions.
Minerco said that the equity financing instrument enables it to control how and when it raises equity by controlling the timing and size of future sales shares to Centurion Private Equity affiliate, Georgia-based fund management company Roswell Capital Partners.
The renewable energy project developer is due to initiate construction on the Chiligatoro project next year, while the common stock share purchase is subject to certain conditions.
Roswell Capital’s senior investment officer Paul Gorski said that the firm will provide Minerco with the ‘necessary capital and support’ to achieve its potential in the coming years.
‘This agreement is expected to give us the ability to move forward on the initial phase of building of our Chiligatoro hydroelectric project and for future potential acquisitions,’ added Minerco CEO and president V Scott Vanis.
Roswell Capital Partners is focused on private equity investments in small-cap publicly traded securities.
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