Private equity investment firm Conduit Capital Partners and CAF, development bank of Latin America, have invested in Peru’s Tacna and Panamericana solar projects.
Combined, the two plants hold a 40MW capacity. The Tacna project is already in operation, while construction is still on-going with the Panamericana installation. Conduit and CAF noted that Solarpack and Gestamp Solar, which developed and constructed the projects, will remain as partners.
Together, Conduit and CAF bought 81% of the projects, which hold a project cost of US$210 million. The solar plants will sell the energy produced through a 20-year power purchase agreement that will eventually see the energy sold on the country’s national grid. Conduit acknowledged that this is its first solar investment.