CPP Investments buying 50% stake in Peruvian power company Inkia Energy

The Canada Pension Plan Investment Board has signed a deal to invest in Peruvian private power generation company Inkia Energy alongside I Squared Capital.

Under the agreement, CPP Investments has agreed to acquire a 50% stake in Inkia at a total enterprise value of US$3.4 billion.

I Squared, which has been invested in Inkia since 2017, will hold the other 50%.

Inkia operates a diversified portfolio through its subsidiaries Kallpa Generación S.A. and Orazul Energy Peru S.A.

Bill Rogers, managing director and head of sustainable energies at CPP Investments, says Inkia operates a resilient power generation platform that aligns well with the fund’s long-term approach to investing in high-quality businesses.

The deal is subject to closing conditions and government approvals.

The Canadian Press

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