I Squared Capital to Acquire IC Power’s Latin American and Caribbean Businesses
NEW YORK — I Squared Capital, through its ISQ Global Infrastructure Fund II, has entered into an agreement to acquire the Latin American and Caribbean businesses (the “LatAm Businesses”) of Inkia Energy Limited, a wholly-owned subsidiary of IC Power Ltd. (“IC Power”). The transaction includes only the LatAm Businesses. IC Power’s Israeli asset, OPC Energy Ltd., is not being sold as part of the transaction.
One of the largest independent power producers in Latin America, Inkia has a highly contracted portfolio of approximately 3.4 gigawatts of gross installed capacity in nine countries, with a fleet of highly efficient hydroelectric, wind and thermal facilities across the region. The company also owns an electricity distribution company servicing approximately 1.7 million customers. Headquartered in Lima, Inkia is the second largest power producer in Peru (based on installed capacity).
“This transaction reinforces I Squared Capital’s commitment to infrastructure in Latin America. The Inkia portfolio comes with a highly seasoned and successful development team as well as a robust pipeline of renewable and natural-gas generation projects,” commented Adil Rahmathulla, Partner at I Squared Capital. “We are excited to work with them to provide efficient, reliable and affordable electricity across the region.”
Credit Suisse and Norton Rose Fulbright acted as advisors to I Squared Capital. The sale is expected to close in the coming months, subject to customary closing conditions and approvals.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.