In return, they are about to get control of Inkia Energy, which runs a crucial power generation infrastructure that provides energy to Peru. This joint development agreement will supplement Inkia’s portfolio of solar, wind, gas, and battery storage projects. It meets the developing energy needs of the nation, including from its large mining industry.
In October 2024, Inkia received environmental approval to expand its Sunny solar power plant. This expansion will increase its capacity from 228 megawatts-peak (MWp) to an amazing 338 MWp. Inkia has been proactively expanding in order to create a solar hub in Peru. This action further cements its dedication to fulfilling the nation’s energy needs.
Inkia boasts a formidable 2.6 gigawatt (GW) generation portfolio. It does so through its subsidiaries, Kallpa Generación and Orazul Energy Peru. The company’s efforts are critical in addressing Peru’s growing energy requirements, particularly from industries that heavily depend on reliable power sources.
CPP Investments and I Squared Capital intend to collaborate closely with Inkia to develop this robust pipeline of renewable energy projects. This strategic partnership is rooted in a shared commitment to sustainability and governance to advance long-duration power generation.
“The transaction reflects CPP Investments’ continued focus on long-duration power generation assets with strong governance and sustainability practices, alongside our experienced partner I Squared.” – CPP Investments representative
Bill Rogers, managing director and head of Sustainable Energies at CPP Investments, reiterated the firm’s commitment to long-term investing. They are seeking more high-quality investments businesses, like Inkia. He emphasized that Inkia’s focus fits with CPP Investments’ broader goal of providing strong, long-term risk-adjusted returns to its contributors.
Inkia’s growth plans are based on the expansion of the Sunny solar power plant. This ambitious project is certainly a signal of the company’s deep commitment towards offering renewable energy solutions. And Inkia is ramping up its solar capacity to cement its influence on Peru’s emerging energy landscape. Simultaneously, the company is addressing pressing environmental concerns.