Miranda & Amado has helped the Peruvian subsidiary of French power company Engie acquire four wind projects from Spanish renewables developer Grenergy Renovables for US$60 million.
The seller relied on Philippi Prietocarrizosa Ferrero DU & Uría (Peru) in the deal, which closed on 21 March.
In the deal, Engie’s Peruvian arm obtained the Duna, Huambos and Naira wind projects in the northern Peruvian region of Cajamarca, which have a combined installed capacity of around 77 megawatts.
The transaction was approved by Peruvian competition authority Indecopi.
With the transaction, Engie aims to increase the installed capacity of its Peruvian renewable energy operations to over 600 megawatts and expand the range of renewable energy projects within its portfolio in Peru.
Engie is among the world’s leading energy providers. In Latin America, it counts a presence in Argentina, Chile, Colombia, Mexico and Peru. Its Peruvian operations have an installed capacity of 2,621 megawatts in Peru. Engie frequently features on transactions involving Latin America. In December, the company’s Brazilian counterpart divested its shares in local gas pipeline company TAG. This came two months after Engie Brasil acquired five Brazilian solar projects from Atlas Renewable Energy for US$641 million.
Headquartered in Madrid, with a presence in Peru since 2016, Grenergy has Latin American operations in Chile, Colombia, Mexico, and Peru. It has a solar energy portfolio of over 900 solar megawatts and 262 projects in development globally.
Counsel to Grenergy Renovables
Philippi Prietocarrizosa Ferrero DU & Uría (Peru)
Partner Rafael Puiggros and associates Sergio Rodriguez, Luciana Carpio-Rivero and Daniella Ginocchio
