Union Group has continued its expansion in the growing Peru hydropower sector with the acquisition of Empresa de Generación Eléctrica Canchayllo SAC (EGECSAC), a subsidiary of Rurelec PLC, for a total consideration of USD14.3 million.
The deal includes a 5.26MW run-of-river hydro power plant in Junin, Peru, which adds to Union Group’s substantial hydropower portfolio in the country. Across Peru, it is developing close to 1,000 MW of combined capacity.
Juan Sartori (pictured), President and Founder of Union Group, says: “Hydropower is a strategically important sector for Union Group in Peru, one involving long-term, cash-generative real assets that help diversify our global institutional investors’ portfolios. This acquisition is part of our approach to buy existing assets, as well as developing and building our plants ourselves.”
Union Group is also currently building 2 hydropower plants 27 MW of installed capacity in the district of Monzon, Huamalies, in the region of Huanuco.
