2023-09-12 21:28:39
In a statement issued by Business Wire, it was reported that the company I Squared Capital has sold the company Energuate, a subsidiary of Inkia Energy, to the firm Threelands Energy. Meanwhile, Luis Ortiz, president of the National Electric Energy Commission (CNEE), told Perspectiva that they have not been notified about what was stated in the article. “We have not received an official notification from Energuate, we know the same thing that everyone knows,” he said.
Perspective Writing
I Squared Capital acquired Energuate in 2017 and has since seen an increase in customer base, growing from 1.7 million to 2.3 million. Additionally, there has been significant growth in per capita consumption and an operational improvement plan has been implemented that includes reducing electricity losses and optimizing charging initiatives.
“We are pleased to have supported Energuate’s growth into a more efficient company,” said Gautam Bhandari, Managing Partner and Chief Investment Officer at I Squared Capital. “Together with Inkia Energy, we implemented a value creation strategy that draws on the knowledge and experience of our entire energy portfolio, which drove significant growth across the business. “We are confident that Energuate is well positioned to continue growing,” quotes an article published by Business Wire.
Energuate is the largest private electricity distribution company in Central America, with nearly 12 million users in more than 100,000 km². The company owns the electricity distributors Deocsa and Deorsa, which provide service in 19 departments of Guatemala. It also has an electricity transmission subsidiary.
At this time, the financial terms of this transaction have not been disclosed. It is only known that the firm Gibson, Dunn & Crutcher LLP acted as legal advisor, and Citigroup Global Markets Inc. as financial advisor to Inkia Energy and I Squared Capital.
IT MAY INTEREST YOU:
ABOUT INKIA ENERGY
Nautilus Energy Holdings and Partners LLC (commercially known as Inkia Energy) is an international company that is focused on the electric energy sector, specifically generation and distribution, and is also part of the transaction.
Inkia is headquartered in Latin America, with operations in Argentina, Peru, Chile, Bolivia and Guatemala, totaling more than 3.4 gigawatts of installed capacity and more than 2.3 million customers served through its distribution business. Inkia focuses on Latin American markets that have higher gross domestic product growth rates as well as lower baseline levels of global and per capita energy consumption compared to developed markets.
#Energuate #ownership #Squared #Capital #sells #company #Threelands #Energy