I Squared Capital Sells Its Power Transmission Business in Peru to Grupo ISA

MIAMI--(BUSINESS WIRE)--I Squared Capital has completed the sale of Etenorte S.R.L. and Eteselva S.R.L. to Interconexión Eléctrica – ISA Peru for a $158.5 million total cash consideration. Etenorte and Eteselva are premium regulated assets with over 740 kilometers 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 $12 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,” said 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 realizations 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 U.S.) to Ontario Power Generation, Lincoln Clean Energy (a leading onshore wind developer in the U.S. 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.

About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, New York and Singapore.