CPP Investments invests in Inkia Energy: Canada Pension Plan Investment Board (CPP Investments) has agreed to acquire 50% ownership stake in Peru-based private power generation company Inkia Energy for $3.4 billion enterprise value. The remaining 50% stake will be acquired by an I Squared-led continuation vehicle. I Squared has been invested in Inkia since 2017. The Peruvian company operates a renewable energy generation portfolio of 2.6 GW through its subsidiaries, Kallpa Generación S.A. and Orazul Energy Peru. Together, CPP Investments and I Squared will support Inkia to develop its more than 4 GW of wind, solar, gas, and battery storage projects pipeline. The transaction is subject to closing conditions and government approvals.
$355 million for Chile project: Spanish multinational clean energy producer Grenergy has raised $355 million in financing to support 398 MW of solar PV and 1.4 GWh of storage capacity in Chile. This senior non-recourse financing agreement was secured with an international syndicate of banks led by BNP Paribas, together with Banco Santander and Rabobank. While the transaction will refinance Grenergy’s existing solar projects and support the hybridization of Gran Teno (241 MW solar and 884 MWh storage) and Tamango (49 MW solar and 158 MWh storage), it will also fund the construction of the Planchón Hybrid Project (108 MW solar and 379 MWh storage). All these projects are part of Grenergy’s Central Oasis platform, a $900 million project with 1.1 GW of solar and 4 GWh of storage capacity. It is scheduled to come online in 2026-2027. Grenergy says the Central Oasis platform was modeled after the company’s own Oasis de Atacama with 2 GW solar and 11 GWh BESS capacity.
PEG-5 moves forward: Guatemala’s PEG-5 renewable energy tender has been significantly oversubscribed. Against the 1.4 GW available under the tender, the administration has received bids for up to 4.7 GW from 51 companies, including for more than 2 GW of solar PV capacity. Through the PEG-5 or Open Tender Electricity Generation Expansion Plan, Guatemala seeks to secure a long-term energy supply at reduced costs. Power generated from the winning projects will be supplied to local discoms Empresa Eléctrica de Guatemala, SA (EEGSA), Distribuidora de Electricidad de Oriente, SA (Deorsa), and Distribuidora de Electricidad de Occidente, SA (Deocsa). According to local media reports, final winners will be announced in April after economic proposals are evaluated for the tender launched in April 2025 (see Largest Energy Tender In Guatemala Targets 1.4 GW Capacity).
Financing for Peru PV project: FinDev Canada, the bilateral development finance institution in Canada, has approved a $56 million loan for a 396 MW solar PV project in Peru’s Aequipa. Enhol Energia-backed Energía Renovable La Joya will use the proceeds to advance the development, construction, and operation of Project Illa, which is expected to be the ‘largest’ solar PV power plant in Peru on completion. The solar project will generate over 890,000 MWh of electricity annually. It will contribute to achieving the country’s goal of net zero GHG emissions by 2050.