ABU DHABI / WAM
Blue Bolt Limited, a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) has acquired a 36% stake in Fenix Power Peru, a thermoelectric power generation company in Lima, as part of a consortium transaction valued at US$786 million. The Peruvian investment fund SIGMA holds 13% of Fenix.
Fenix Power is a power generation company which owns a 570 megawatt combined cycle power plant in the district of Chilca, south of Lima.
It is responsible for producing 10% of the energy currently consumed in Peru and is also recognised as the most efficient thermal power plant in the country. First contact between ADIA and SIGMA was initiated in 2013 during the InPeru investment roadshow, arranged by the Trade and Investment Office of Peru in the UAE.
The delegation, at that time the biggest from Latin America to visit the UAE, was headed by the Minister of Economy and Finance and the Governor of the Peruvian Central Bank, and included senior business executives from leading organisations representing Peruâ€™s economic activity.
â€œThis investment is testament to the strengthening of bilateral ties between the UAE and Peru,â€ said Alvaro Silva-Santisteban, Director of the Trade and Investment Office of Peru in the UAE. â€œWe have received up to US$1.7 billion in investments from the UAE since 2010â€.