Peru’s Luz del Sur cleared to acquire solar operators

Peru’s antitrust authority Indecopi has authorized power distributor Luz del Sur to acquire Sojitz Arcus Investment.

Luz provided the update in a filing to local securities regulator SMV, in which it said that one of the conditions to close the US$133mn transaction, announced in March, has now been fulfilled.

Sojitz owns Majes Arcus and Repartición Arcus which operate solar parks Majes and Repartición, each 20MW.

In a related development, Enel Generación Perú told SMV that it was notified by parent Enel Perú that the Enel group is in talks with Actis for the possible sale of all its shares in Enel Generación Perú and Enel Generación Piura.

FINANCING

Meanwhile, Luz del Sur announced the placement of 360-day bonds for 110mn soles (US$32.5mn) with a yield of 7.22%.

Demand for the C-series bonds, which are part of the second issue of short-term instruments under the utility's fourth corporate bond program, was 153mn soles.

For its part, Electroperú reported that its board approved a proposal to seek short-term financing for up to 100mn soles from Banco de Crédito del Perú with an annual interest rate of 8.02%.