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Actis buys 2.2GW Enel portfolio in Peru

RICHARD HEAP

May 13, 2024

Growth markets investor Actis has bought Italian utility Enel’s stake in a 2.2GW portfolio of wind and solar assets in Peru for $1.3bn.

Actis has bought Enel’s 87% stake in Enel Generación Perú and 100% stake in Compania Energetica Veracruz through its Actis Energy 5 fund. The pair own 12 operating assets and one more under construction; and the portfolio is split across wind, solar, hydro and thermal assets.

Nicolas Escallon, partner of energy infrastructure at Actis, said the deal continues its “long history of investing in Latin American energy generation, transmission and distribution”.

He said: “This acquisition is a key addition to our energy portfolio and represents another important investment in the region for our flagship Energy 5 Fund. It follows our proven strategy of investing behind world class management teams to build and grow high quality power generation businesses in growth markets.”

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