Altérra and I Squared Capital coinvest in Inkia Energy to expand Peru’s renewable energy portfolio to 4 GW

Type: Investment · Technology: Solar, Onshore Wind, Storage · Country: Peru · Announced: 2026-06-19

Canada Pension Plan Investment Board (CPP Investments) acquired a 50% stake in Inkia Energy in February 2026 for $3.4 billion, valuing the company at $3.4 billion, while the remaining 50% was retained by a continuity vehicle led by I Squared Capital. Altérra, a global climate investment platform launched by the UAE at COP28 with a $30 billion commitment, joined as a co-investor through its Opportunity Fund to support Inkia Energy’s expansion of its 4 GW renewable energy portfolio in Peru. The transaction marks Altérra’s first direct investment in Latin America and its second coinvestment alongside I Squared Capital, following their joint investment in Absolute Energy, an Italian solar and battery storage platform targeting 1.4 GW of projects. Inkia Energy, headquartered in Lima, currently operates 2.6 GW of generation capacity, supplying roughly one-quarter of Peru’s electricity, and plans to add approximately 1 GW of new solar and wind projects in the short term. The investment aligns with Peru’s growing electricity demand driven by mining activity, industrial expansion, and infrastructure development, creating favorable conditions for further renewable energy capacity additions.

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