TORONTO – The Canada Pension Plan Investment Board has signed a deal to invest in Peruvian private power generation company Inkia Energy alongside I Squared Capital.
Under the agreement, CPP Investments has agreed to acquire a 50 per cent stake in Inkia at a total enterprise value of US$3.4 billion.
I Squared, which has been invested in Inkia since 2017, will hold the other 50 per cent.
Inkia operates a diversified portfolio through its subsidiaries Kallpa Generación S.A. and Orazul Energy Peru S.A.
Bill Rogers, managing director and head of sustainable energies at CPP Investments, says Inkia operates a resilient power generation platform that aligns well with the fund’s long-term approach to investing in high-quality businesses.
The deal is subject to closing conditions and government approvals.
This report by The Canadian Press was first published Feb. 12, 2026.
