Riverstone completed the acquisition of an 80% stake in two solar photovoltaic plants in Mexico from Opdenergy.

Riverstone, a Singapore-based investment holding company, completed the acquisition of an 80% stake in two solar photovoltaic plants in Mexico from Opdenergy, a developer of renewable energy projects based in Spain, for $233m. Both plants are fully operational, having reached COD under their respective PPAs in January 2020. Closing is subject to customary approvals. In addition, Riverstone and Opdenergy will form Vera Renovables, an 80/20 joint venture to develop, acquire and/or construct new renewable energy projects in Mexico including Opdenergy’s PV pipeline in the country.