Grupo Enhol and COFIDES are promoting the largest photovoltaic power plant in Peru

 

COFIDES and the Navarrese investment group Enhol They have sealed a strategic alliance to develop the photovoltaic plant Illa en PerúWith an installed capacity of 396 MW, this infrastructure will become the largest solar power plant in the country, contributing significantly to the decarbonization of the energy matrix and strengthening the presence of Spanish companies in the renewable energy sector globally.

 

Financing and structure of the project in Arequipa

 

The construction, operation and maintenance of the plant Illa, located in the region of Arequipa, represents a total investment that exceeds 350 millionTo make this infrastructure viable, COFIDES has mobilized $40 million charged to Fondo para Inversiones en el Exterior (FIEX) and its own resources. This operation has been formalized through a syndicated loan under the modality of project finance.

 

A key aspect for the project's financial stability is that 80% of the energy generated is backed by a long-term power purchase agreement (PPA) with Kallpa Generación, one of the most important energy corporations in the Peruvian market. This contract ensures a constant supply of clean energy and guarantees the long-term operational viability of the facility.

 

 

Concept	Project Details Illa
Location	Arequipa, Perú
Installed Capacity	396 MW
Total inversion	+350 Million USD
Input COFIDES	$40 Million
Impact on National Energy	2,5% of the country total
Jobs Created	+600 jobs

 

Socioeconomic impact and energy transition

 

The development of Illa It not only represents a technological advance, but also an engine of local economic growth, having already generated more than 600 jobs en PerúThe plant will allow for the diversification of Peru's energy matrix, traditionally dependent on hydroelectric and thermal sources, by introducing a greater proportion of non-conventional renewable energy.

 

Miguel Ángel Ladero, corporate director of the Investment department of COFIDES, has highlighted the relevance of this initiative: “The support for this paradigmatic project in Perú in the field of renewable energies is a further example of the commitment of COFIDES with sustainability and companies that, like Enhol, contribute to progress in the energy transition".

 

For its part, Nicolás Larumbe, Director of Project Implementation of Grupo EnholHe noted: “This project marks a milestone in our international growth strategy and consolidates our ability to develop large-scale energy infrastructure in key markets. PSF Illa strengthens our positioning in Latinoamérica and positions us as a relevant player in the transformation of the country's energy model."

 

Profile of the promoting entities

 

• Grupo Enhol: A family-owned investor from Navarre with nearly a century of experience. It operates in the renewable energy, agriculture, sustainable food, and real estate sectors. It has 9 offices, a team of 400 people, and a presence in 28 countries with a turnover of 200 million euros.
• COFIDES: State-owned commercial company that manages state funds and its own resources to support the internationalization of the Spanish economy and sustainable development projects.

 

Key points and frequently asked questions about the project Illa

 

What impact will the plant have? Illa in the electrical system of Perú?

The plant will generate approximately 2,5% of the country's total energy, becoming the largest photovoltaic power plant in Perú with a capacity of 396 MW.

 

How is the financing of this infrastructure structured?

The project has an investment of more than 350 million dollars, of which 40 million are contributed by COFIDES through a syndicated loan type project finance charged to FIEX.

 

Who guarantees the purchase of the energy produced?

80% of energy production is secured through a long-term power purchase agreement (PPA) signed with the energy company Kallpa Generación.