The Latin American Development Bank (CAF) and the private equity firm Conduit Capital together have invested in two photovoltaic power generating plants in southern Peru that are to provide 1,736 gigawatt hours per year to the Peruvian grid.
12 November 2012: The Latin American Development Bank (CAF) and the private equity investment firm Conduit Capital Partners LLC have announced that they jointly invested in the Tacna and Panamericana photovoltaic (PV) power generation plants in southern Peru.
Together, CAF and Conduit acquired 81% shareholdings of the two projects that combined cost US$210 million, with the Spanish multinational enterprises that developed and built them, Solarpack and Gestamp Solar, remaining as minority partners.
One of the PV projects is located in Tacna, Arequipa, the other in the Department of Moquegua. Tacna is already operational, Panamericana soon shall be. Each has a generation capacity of 20 megawatts (MW) for a total of 40 MW. The two will sell power to the Peruvian grid through a 20-year, 1,736 gigawatt hours (GWh) per year purchase agreement with the Peruvian government expressed in US dollars.
Eleonora Silva, CAF Director for Peru, hailed the Bank’s investment in the projects as “emblematic” of CAF’s commitment to renewable energy development in Latin America. [CAF Press Release]