US-based private equity firm I Squared Capital has announced the completion of sale of Etenorte and Eteselva to Interconexión Eléctrica – ISA Peru for a total cash consideration of $158.5m.
The premium regulated assets, Etenorte and Eteselva have more than 740km of power transmission lines in Peru.
They are the wholly owned subsidiaries of Inkia Energy, which is a portfolio company of I Squared Capital’s power generation and distribution facilities in nine countries across Latin America.
I Squared Capital managing partner Adil Rahmathulla said: “I Squared Capital continues to be at the forefront of global infrastructure investing through a combination of platform building and large opportunistic transactions.
“We continue to see attractive opportunities in growth markets in Latin America and Asia and are looking to expand our footprint in these regions.”
Etenorte and Eteselva generated $12m revenue in 2019
I Squared Capital said that Etenorte and Eteselva have reported nearly $12m revenue last year.
The company’s other realisations include Chenya Energy to Marubeni Corporation, Kendall Green Energy to Veolia, Cube Hydro to Ontario Power Generation, Lincoln Clean Energy to Ørsted, and Amplus Solar to Petronas.
In April this year, the private equity company has completed the sale of Chenya Energy to Marubeni, a Japanese company, for an undisclosed amount.
Chenya Energy is a solar development, construction and operating platform in Taiwan and was a wholly owned subsidiary of Asia Cube Energy, a pan-Asian renewable portfolio company founded by I Squared Capital in 2017.
Earlier this year, I Squared Capital, through its ISQ Global Infrastructure Fund II, has acquired an indirect equity interest in OCENSA crude oil pipeline from Advent International in Colombia.
