Conduit Capital Investing In Mexico

NY-based private equity firm Conduit Capital plans to invest about $100m to build 2 hydroelectric plants in Mexico, say sources close to the shop. One of the projects, Cerro de Oro, will generate about 14MW and the other, Veracruz, will generate about 30MW. Construction should be completed in about 2 years. About half of the funds will come in the form of equity and the rest from bank financing. Conduit is already in talks with several banks, the sources say without disclosing names. The equity portion will come from the Latin Power III fund and Asergen, Conduit’s partner in the projects. The firm, which has plans to open an office in Mexico, is also seeking to invest in wind projects, but no specific plans have been revealed.