ALTÉRRA has entered a co-investment in Inkia Energy, Peru’s largest independent power producer, alongside global infrastructure investment manager I Squared Capital, to support the expansion of renewable energy capacity.
The transaction represents ALTÉRRA’s first direct investment in Latin America. It was completed through an I Squared Capital-managed continuation vehicle under a joint control structure involving the Canada Pension Plan Investment Board (CPP Investments).
The investment was made through ALTÉRRA’s Opportunity Fund, which forms part of its broader investment program across developed and growth markets.
ALTÉRRA currently has more than 30 investments supporting a renewable energy pipeline of approximately 100 GW.
Inkia Energy, headquartered in Lima, operates around 2.6 GW of generation capacity. This accounts for approximately one quarter of Peru’s electricity supply.
The company also has a 4 GW renewable energy pipeline, including an estimated 1 GW of near-term solar and wind projects. These projects are expected to contribute to additional generation capacity in the Peruvian power sector.
Peru’s electricity sector is supported by demand from mining activity, industrial production, and infrastructure development.
The sector is also experiencing tighter reserve margins, which is contributing to increased requirements for additional generation capacity. This environment is supporting ongoing investment in both conventional and renewable energy projects.
The Inkia Energy platform is managed by an experienced leadership team with a track record in power generation and development across the region. The platform is supported by I Squared Capital’s long-term investment role in the asset.
The transaction is the second co-investment between ALTÉRRA and I Squared Capital, following their earlier investment in Absolute Energy, a solar and battery storage platform in Italy with a planned pipeline of 1.4 GW.
Majid Al Suwaidi CEO – ALTÉRRA
“Mobilizing long-term capital into growth markets is essential to accelerating the global climate transition. By investing in gigawatt-scale energy platforms such as Inkia Energy, we are not only expanding renewable generation but also supporting more resilient power systems and fostering long-term economic development. Peru has significant renewable potential, and this investment reflects our continued focus on backing scalable transition infrastructure in high-growth markets.”
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, stated that, “We are delighted to welcome ALTÉRRA as an investor in Inkia. This builds on our growing relationship with ALTÉRRA, which continues to deepen across markets and strategies, and we are proud to extend it to one of Latin America’s most important power platforms. This transaction also reflects the strength of our partnership with CPP Investments.”
