Private equity firm Conduit Capital Partners LLC and CAF have invested in the Tacna and Panamericana solar projects, which total 40 MW, in southern Peru. Spain-based developers Solarpack and Gestamp Solar remain as project partners.
Conduit and CAF have acquired 81% of the projects, which have a total cost of approximately $210 million. The Tacna installation recently became operational, and the Panamericana development is currently under construction. Both projects will sell energy into the Peruvian grid through 20-year power purchase agreements.
‘As one of the largest photovoltaic plants connected to a public Latin American power grid, this is an emblematic project for our institution,’ says Eleonora Silva, director of CAF for Peru.
The projects represent the first solar investment made by Conduit Capital Partners.