I Squared Capital sells power transmission business in Peru to Grupo ISA
I Squared Capital has completed the sale of Etenorte and Eteselva to Interconexión Eléctrica – ISA Peru for a USD158.5 million total cash consideration.
Etenorte and Eteselva are regulated assets with over 740 kilometres of power transmission lines in Peru and were wholly owned subsidiaries of Inkia Energy, a portfolio company of I Squared Capital’s power generation and distribution facilities in nine countries across Latin America. In 2019, Etenorte and Eteselva generated approximately USD12 million in revenues.
“I Squared Capital continues to be at the forefront of global infrastructure investing through a combination of platform building and large opportunistic transactions,” says Adil Rahmathulla, Managing Partner at I Squared Capital. “We continue to see attractive opportunities in growth markets in Latin America and Asia and are looking to expand our footprint in these regions.”
Other realisations include Chenya Energy (a solar development, construction and operating platform in Taiwan) to Marubeni Corporation, Kendall Green Energy (a cogeneration facility in Cambridge, Massachusetts) to Veolia, Cube Hydro (one of the largest independent hydroelectric companies in the US) to Ontario Power Generation, Lincoln Clean Energy (a leading onshore wind developer in the US with 800 megawatts) to Ørsted, and Amplus Solar (the preeminent provider of rooftop solar systems for the Indian commercial and industrial market with over 344 megawatts) to Petronas.