Information on the target
Terna, an Italian company specializing in electricity transmission, has successfully completed the sale of 100% of its subsidiary, Terna Perú, to Engie Transmisión Perú, a member of the Engie Group, for an approximate transaction value of US$15 million. The transaction was finalized on September 29, 2026, in accordance with the agreement signed on February 26, 2026. This operation was executed by Terna Plus and Rete, both subsidiaries of the Terna Group, which transferred all shares of Terna Perú to Engie Transmisión Perú.
Terna Perú owns a 138 kV electricity transmission line, approximately 132 kilometers in length, which connects the Aguaytía and Pucallpa substations in the Ucayali region. This infrastructure represents the primary asset involved in the transaction. The sale is part of Terna's strategic refocus outlined in its updated Industrial Plan for 2024-2028, as the Italian group strengthens its portfolio of transmission assets in Latin America while gradually divesting non-strategic activities outside of Italy.
Industry overview in the target’s specific country
The Electric Utilities (NEC) industry in Peru has been experiencing significant growth, driven by increasing demand for electricity and ongoing investments in infrastructure. The Peruvian government has implemented various policies aimed at enhancing the energy sector, promoting renewable energy sources, and improving the overall reliability of electricity supply. This has created a favorable environment for both domestic and foreign investors looking to capitalize on the expanding market.
In recent years, the Peruvian electric utilities sector has seen a shift towards greater diversification of energy sources, with a notable increase in the share of renewable energy in the energy mix. Hydropower remains a dominant source of electricity generation, but there is a growing emphasis on solar and wind energy projects. This transition is supported by government initiatives that aim to reduce greenhouse gas emissions and promote sustainable energy practices.
Moreover, the regulatory framework governing the electric utilities sector in Peru has been evolving to facilitate investment and ensure fair competition. The government has established mechanisms to encourage private participation in electricity generation and transmission, which has led to a more competitive market landscape. As a result, companies operating in this sector are increasingly focused on enhancing their operational efficiency and expanding their service offerings to meet the rising demand for electricity.
Overall, the Electric Utilities (NEC) industry in Peru presents a robust growth trajectory, characterized by a combination of government support, increasing investments, and a shif…