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[PRESS RELEASE] Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

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Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

 

On January 23, 2019, the management team of Faro Energy SAS (“Faro Colombia” or “the Company”) led by its co-founder and Executive Director Carlos Urueta reached an agreement with Faro Energy Ltd (“FEL”) its parent company to acquire 100% of FEL’s Colombian business. The terms of the transaction were not disclosed. Faro Colombia will now be known as Harvest.

Based in Barranquilla, Faro Colombia  began commercial operations in 2016 as a developer and investor in distributed generation solar energy projects with long-term energy supply agreements. The Company owns operating solar plants for key Colombian corporates like Terpel SA (largest fuel distributor in Colombia) and real estate and retail clients like Medellin’s luxury shopping mall Centro Comercial Premium Plaza. The Company also boasts a strong pipeline in the agribusiness and mining sectors under exclusive development agreements and ready-to-build systems in 2019.

Harvest will continue to be led by Carlos Urueta and Juan Silva (its Executive Director of Operations). “This transaction will allow Harvest to diversify its funding sources at a critical moment in our business, in order to accelerate growth and enter into other key segments of the Colombian renewable energy space beyond self-generation to now include mid-scale generation plants and biomass. We are pleased to provide our investors broader investment alternatives and structures to capitalize on the emerging Colombian renewables energy space”, said Mr. Urueta.

The Faro Energy Group will now be primarily focused on its rapidly growing distributed solar generation business in Brazil, where it is building more than 35 MW, although will remain a funding partner for Harvest. “This transaction will enable Faro Energy to focus on its biggest market and to streamline its operations.” said Sarah Chapman, Faro Energy CEO. “At the same time it gives the Harvest team the independence and flexibility to diversify its investor base and adapt its business model for the Colombian market. We wish the team every success in continuing to lead the transition to renewable energy in Colombia.”

About Harvest

Harvest (formerly Faro Energy SAS) is a developer and investor in renewable energy projects in Colombia. Harvest identifies and structures generation projects to create world-class investment vehicles.  

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil.

Press contacts:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Partner, carlos@harvest.com.co


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Faro Energy SAS (Faro Energy Ltd’s Colombian business) Acquired via MBO, and Rebranded to Harvest

 

On January 23, 2019, the management team of Faro Energy SAS (“Faro Colombia” or “the Company”) led by its co-founder and Executive Director Carlos Urueta reached an agreement with Faro Energy Ltd (“FEL”) its parent company to acquire 100% of FEL’s Colombian business. The terms of the transaction were not disclosed. Faro Colombia will now be known as Harvest.

Based in Barranquilla, Faro Colombia  began commercial operations in 2016 as a developer and investor in distributed generation solar energy projects with long-term energy supply agreements. The Company owns operating solar plants for key Colombian corporates like Terpel SA (largest fuel distributor in Colombia) and real estate and retail clients like Medellin’s luxury shopping mall Centro Comercial Premium Plaza. The Company also boasts a strong pipeline in the agribusiness and mining sectors under exclusive development agreements and ready-to-build systems in 2019.

Harvest will continue to be led by Carlos Urueta and Juan Silva (its Executive Director of Operations). “This transaction will allow Harvest to diversify its funding sources at a critical moment in our business, in order to accelerate growth and entry into other key segments of the Colombian renewable energy space beyond self-generation to now include mid-scale generation plants and biomass. We are pleased to provide our investors broader investment alternatives and structures to capitalize on the emerging Colombian renewables energy space”, said Mr. Urueta.

The Faro Energy Group will now be primarily focused on its rapidly growing distributed solar generation business in Brazil, where it is building more than 35 MW, although will remain a funding partner for Harvest. “This transaction will enable Faro Energy to focus on its biggest market and to streamline its operations.” said Sarah Chapman, Faro Energy CEO. “At the same time it gives the Harvest team the independence and flexibility to diversify its investor base and adapt its business model for the Colombian market. We wish the team every success in continuing to lead the transition to renewable energy in Colombia.”

About Harvest

Harvest (formerly Faro Energy SAS) is a developer and investor in renewable energy projects in Colombia. Harvest identifies and structures generation projects to create world-class investment vehicles.  

About Faro Energy

The Faro Energy Group, headquartered in London, invests in and develops renewable energy projects in Latin America. As of 2019, it is primarily focused on the rapidly growing distributed solar generation market in Brazil.

Press contacts:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Partner, carlos@harvest.com.co


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Faro Energy SAS (o braço colombiano da Faro Energy Ltd) adquirido via MBO, e reformulado para Harvest

 

Em 23 de janeiro de 2019, o time gerencial da Faro Energy SAS (“Faro Colombia” ou a “Empresa”), liderada por seu cofundador e Diretor Executivo Carlos Urueta realizou um acordo com a Faro Energy Ltda (“FEL”), sua empresa matriz, para adquirir 100% dos negócios da FEL na Colômbia. Os termos da transação não foram divulgados. A Faro Colômbia agora passa a ser chamada de Harvest.

Baseado em Barranquilla, a Faro Colômbia iniciou suas operações comerciais em 2016 como desenvolvedora e investidora de projetos de longo prazo em energia solar para geração distribuída. A empresa possui sistemas solares em operação para importantes Companhias na Colômbia como a Terpel AS (maior distribuidor de combustível) e clientes do setor imobiliário e varejo como o shopping de luxo Centro Comercial Premimum Plaza de Medellin. A empresa também ostenta um forte pipeline no agronegócio e no setor de mineração com acordos de desenvolvimento para projetos ready-to-build em 2019.

A Harvest continuará a ser liderada por Carlos Urueta e Juan Silva (Diretor Técnico). “Esta transação vai permitir que a Harvest possa diversificar suas fontes de financiamento em um momento crítico para o nosso negócio, com o intuito de acelerar o crescimento e entrar em outros segmentos-chave além do mercado colombiano de autogeração em energias renováveis, incluindo plantas de geração em média escala e biomassa. Nós estamos contentes em oferecer aos nossos investidores outras alternativas e maior estrutura para capitalizar o emergente mercado colombiano de energias renováveis”, disse o Sr. Urueta.

O Faro Energy Group continuará agora focando o seu crescimento no crescente mercado de energia distribuída brasileiro, onde está construindo mais de 35 MW, embora ainda continue sendo um parceiro investidor da Harvest. “Esta transação permite a Faro Energy focar no seu maior mercado aperfeiçoar suas operações” diz Sarah Chapman, Faro Energy CEO. “Ao mesmo tempo isso dá ao time da Harvest a independência e flexibilidade para diversificar sua base de investidores e adaptar seu modelo de negócio para o mercado colombiano. Nós desejamos ao time todo o sucesso na continuidade de liderar a transição do mercado de energias renováveis na Colômbia”.

 

Sobre a Harvest

 A Harvest (antiga Faro Energy SAS) é uma desenvolvedora e investidora em projetos de energia renovável na Colômbia. A Harvest identifica e estrutura projetos de geração que criam investimentos em nível global.

Sobre a Faro Energy

A Faro Energy Group, sediada em Londres, investe e desenvolve projetos de energia renovável na América Latina. A partir de 2019, seu foco primário é o crescimento em projetos de energia distribuída no crescente mercado do Brasil.

 

Principais Contatos:

Faro Energy: Sarah Chapman, CEO, sarah.chapman@faroenergy.com

Harvest: Carlos Urueta, Sócio, carlos@harvest.com.co

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