Israel buys into Peru’s energy sector

Israel Corp., one of Israel’s major holding companies, is evaluating the acquisition of Peruvian utility Electroandes’ four hydroelectric plants, the government paper El Peruano quoted the Israeli company’s president Idan Ofer as saying. The US-based Public Service Enterprise Group (PSEG) controls Electroandes, and is seeking to divest it. Israel Corporation has already completed the 180MW Kallpa thermo plant, which recently went on line (at Chilca, 65 kilometers south of Lima). Israel Corp. took over the Kallpa project form the UK-based Globeleq. “The principal motivation for investing in Peru is the stability and transparency of the electric market,” Ofer said. The holding company also is looking at Peru’s biofuels and port sectors. (Business News Americas, July 25, via BBC Monitoring)

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