State Oil Fund of Azerbaijan acquires stake in Peru's Inkia Energy
BAKU. Aug 7 (Interfax) - The State Oil Fund of the Azerbaijan Republic (SOFAZ) has acquired a stake in Inkia Energy, Peru's largest independent power producer, SOFAZ said in a statement.
"The transaction was completed through a partnership with I Squared Capital (I Squared), one of the world's leading infrastructure investment companies. Specifically, in February 2026, the Canada Pension Plan Investment Board (CPPIB) acquired 50% of Inkia Energy's shares from I Squared. The remaining 50% was acquired through an investment vehicle managed by I Squared, in which SOFAZ is an investor," according to the statement.
The financial terms of the transaction have not been disclosed.
The investment is in line with SOFAZ's long-term strategy, contributes to the geographic diversification of the fund's assets through access to the Latin American market, and bolsters the investment portfolio with sustainable assets in the power sector with solid fundamentals and an attractive risk-return ratio, according to the statement.
SOFAZ data indicate that Inkia Energy is a key player in Peru's energy sector, demonstrating solid operating performance. The company has a diversified asset portfolio, including hydroelectric power plants, natural gas facilities, as well as solar power and wind power. Inkia Energy has total effective generating capacity of 2.6 GW, accounting for approximately 22% of Peru's total electricity production. Furthermore, the company has a portfolio of promising projects with capacity over 4 GW, primarily in renewable energy.
Founded in 2012, I Squared Capital is one of the world's leading independent infrastructure investors that manages assets worth over $60 billion, and invests in projects in energy and utilities, transportation and logistics, as well as in digital, environmental, and social infrastructure. The portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, U.S., I Squared Capital also has offices in Abu Dhabi, London, Munich, New Delhi, Sao Paulo, Singapore, Sydney, and Taipei.
