November 27 (Renewables Now) - Global infrastructure investment manager I Squared Capital today said it has agreed to buy the Latin American and Caribbean operations of Lima-based Inkia Energy Ltd.
The acquisition will happen through the ISQ Global Infrastructure Fund II.
Inkia, a unit of IC Power Ltd, is the second largest power producer in Peru. It has 3.4 GW gross of power capacity in nine countries, including hydro, wind and thermal power plants in the region. In addition, its electricity distribution subsidiary serves roughly 1.7 million customers.
“The Inkia portfolio comes with a highly seasoned and successful development team as well as a robust pipeline of renewable and natural-gas generation projects,” said Adil Rahmathulla, Partner at I Squared Capital.
The terms of the acquisition deal, seen to close in the coming months, have not been disclosed. Credit Suisse and Norton Rose Fulbright serve as advisors to the buyer.
I Squared Capital pointed out that OPC Energy Ltd in Israel is not part of the agreement.