Inkia poised to become the largest renewable energy producer in Peru with transformational expansion plans

• More than 1 GW of new solar capacity to be available by end of 2025
• 3+ GW pipeline, out of which over 600 MW of wind projects to be launched in 2026
• By adding to its existing 2,237 MW of hydro, natural gas and BESS capacity, Inkia will secure its position as the largest and most diversified generation company in Peru

LIMA, Peru, Oct. 10, 2024 /PRNewswire/ -- Inkia Energy, through its wholly-owned subsidiary Kallpa, received environmental approval for the expansion of its solar power plant currently under construction in Southern Peru, a leading global solar resource hub. The approval will bring the solar project, Sunny, from 228 MWp to 338 MWp, and is expected to be fully operational by the second half of 2025. Based in Peru, Inkia Energy is the country's largest power generator and is controlled by global infrastructure investor I Squared Capital.

Besides Sunny, Inkia has enabled the construction of two adjacent solar projects, by signing energy and I-REC off-take agreements for these developments. With these three projects, Inkia will consolidate the energy of 'Peru's Solar Hub', contributing approximately 1 GWp of renewable capacity to the National Interconnected Grid starting in the fourth quarter of 2025.

In addition, the company expects to launch two wind projects, with an aggregate capacity of at least 600 MW, in 2026. The wind developments, plus several other solar and BESS projects, will bolster the company's position as the leading renewable energy player to supply Peru's current and future energy needs. The initiatives reinforce Inkia's value proposition to provide its customers with a continuous and reliable power supply produced by a combination of different renewable sources and efficient natural gas capacity, which is critical for covering renewable energy shortfalls and intermittency.

Inkia also offers several behind-the-meter energy solutions to its clients through its dedicated retail vehicle, Kondu, which has become one of the largest players in the small and medium enterprise (SME) market segment.

"Inkia is a developer at its core and was the fastest growing generation company during the last decade. The launch of Sunny marks the beginning of the Inkia 2.0 expansion campaign, aligned with Peru`s energy needs and securing Inkia as a leading energy solutions company in the country," said Willem Van Twembeke, Inkia Energy's CEO. "We believe that Inkia's balanced portfolio, along with its investment grade rating, makes the company the top choice for clients in terms of reliability, both in energy and financial support."

About Inkia Energy

Inkia is the largest power generator in Peru boasting 2,237 MW of installed capacity through its wholly-owned subsidiary Kallpa. Inkia Energy is controlled by I Squared Capital, a leading independent global infrastructure investor with over $40 billion in assets under management. In Peru, Inkia operates a portfolio of hydroelectric and efficient combined-cycle natural gas generation, and recently commissioned a 34 MW Battery Energy Storage System (BESS). Besides Sunny, Kallpa is developing several wind, solar and BESS projects, ensuring a continuous, reliable, and environmentally friendly electricity supply for Peru. Inkia also owns Kondu, an energy solutions vehicle dedicated to retail demand, offering several energy supply and behind-the-meter solutions to Inkia's clients. Outside of Peru, Inkia has owned and operated generation and distribution assets for over 5.5 GW and 2 million clients, respectively, across Latin America.

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