ALTÉRRA partners with I Squared Capital to invest in Peru’s Inkia Energy

• Transaction marks ALTÉRRA’s first investment in Latin America and second co-investment alongside I Squared 

• Investment will support the development of 4 GW renewables pipeline, including a near-term expansion pipeline of ~1 GW of solar and wind projects

• Transaction advances Inkia’s decarbonization and resiliency of Peru’s electricity system

Abu Dhabi, Miami, 18 June 2026 – ALTÉRRA today announced its co-investment in Inkia Energy (“Inkia”), Peru’s largest independent power producer, alongside global infrastructure investment manager, I Squared Capital (“I Squared”), to support the expansion of its renewable energy activities. Marking ALTÉRRA’s first direct investment in Latin America, the transaction was completed through an I Squared-managed continuation vehicle established under a joint control structure between I Squared and Canada Pension Plan Investment Board (CPP Investments).   

The co-investment was made through ALTÉRRA’s recently launched Opportunity Fund and it complements ALTÉRRA’s diversified portfolio of more than 30 investments across developed and growth markets, supporting a renewable energy pipeline of close to 100 GW. 

Based in Lima, Inkia operates 2.6 GW of generation capacity, representing around one quarter of Peru’s electricity supply. Through its 4 GW renewables pipeline, including a near term expansion pipeline of approximately 1 GW of solar and wind projects, the platform is expected to support the continued decarbonization of Peru’s power system while helping deliver reliable and affordable electricity in one of Latin America’s fastest-growing energy markets.  

Peru’s power sector continues to benefit from strong long-term fundamentals, including rising electricity demand driven by mining activity, industrial growth and infrastructure development. Tightening reserve margins are further increasing the need for additional generation capacity, which creates a supportive backdrop for long-term investment across the sector. 

Inkia’s next phase of growth is supported by an experienced management team with a proven track record in developing and operating power assets across the region. This is further strengthened by I Squared’s long-standing ownership of the platform and its broader experience in the infrastructure and energy sectors. The Inkia investment marks ALTÉRRA's second co-investment alongside I Squared, following a co-investment in Absolute Energy, an Italian solar and battery storage platform targeting a 1.4 GW initial pipeline.

H.E. Majid Al Suwaidi, CEO of ALTÉRRA, commented:

“Mobilizing long-term capital into growth markets is essential to accelerating the global climate transition. By investing in gigawatt-scale energy platforms such as Inkia Energy we are not only expanding renewable generation but also supporting more resilient power systems and fostering long-term economic development. Peru has significant renewable potential, and this investment reflects our continued focus on backing scalable transition infrastructure in high-growth markets.”

Sadek Wahba, Chairman and Managing Partner, I Squared Capital, said:

“We are delighted to welcome ALTÉRRA as investor in Inkia. This builds on our growing relationship with ALTÉRRA which continues to deepen across markets and strategies, and we are proud to extend it to one of Latin America's most important power platforms. This transaction also reflects the strength of our partnership with CPP Investments. ALTÉRRA’s investment is a powerful endorsement of what Inkia has become: a scaled, diversified platform that is central to Peru's energy future. With our partners' support, we are well positioned to deliver the next phase of growth, including a gigawatt-scale renewables programme that will accelerate Peru's decarbonization, while meeting the country's rapidly expanding electricity demand.”

With continued backing from Montagu, which initially invested in Wireless Logic in 2018, and the additional support of General Atlantic and ALTÉRRA, Wireless Logic is well positioned to continue expanding globally both organically and through targeted acquisitions, including in high‑growth markets where demand for secure, flexible IoT connectivity is increasing.

About ALTÉRRA

ALTÉRRA is one of the world’s largest private investment vehicles for climate finance. Launched at COP28 with a US$30 billion commitment from the UAE, ALTÉRRA managed funds aim to build innovative partnerships to mobilize US$250 billion globally by 2030 to finance the new climate economy and accelerate the climate transition.

ALTÉRRA operates three funds. The Acceleration Fund directs capital towards projects crucial for accelerating the global transition to a net-zero and climate-resilient economy at scale. The Transformation Fund incentivizes investment flows in high-growth climate opportunities in underserved markets by providing catalytic capital. The Opportunity Fund is a climate co-investment vehicle, pursuing a diversified global investment strategy across climate-aligned infrastructure, private equity and private credit.

Altérra Management Limited is duly licensed and authorized by the ADGM Financial Services Regulatory Authority under the Financial Services Permission No. 200001 and licensed for Advising on Investments or Credit, Arranging Credit, Arranging Deals in Investments, Managing Assets and Managing a Collective Investment Fund (each as defined in the FSRA rules).

About I Squared Capital

I Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.