La Niña-Piura, Pariñas-Nueva Tumbes and
Tingo Maria-Aguaytia Transmission Lines

Peru

The concession of the three projects was awarded to Cobra, from Spain

US$ 90.8 MM

Leader of the Consortium advising the Government of Peru, through ProInversion, for the concession to the private sector of three transmission lines: 87.1 Km., 500 kV La Niña-Piura transmission line; 158 Km., 220 kV Pariñas-Nueva Tumbes transmission line; and 73 Km., 220 kV Tingo Maria-Aguaytia transmission line. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contracts, identification and analysis of business risks, valuation of the projects, promotion to local and international operators and support in the closing of the transaction. Cobra (Spain) was granted the concession.

Mantaro-Nueva Yanango-Carapongo and
Nueva Yanango-Nueva Huanuco Transmission Lines

Peru

The concession of both transmission lines was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 272 MM

Leader of the Consortium advising the Government of Peru, through ProInversion, for the concession of two transmission lines “Enlace 500 kV Mantaro-Nueva Yanango-Carapongo” and “Enlace 500 kV Nueva Yanango-Nueva Huánuco” 211 Km and 184 Km. long, respectively. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contracts, identification and analysis of business risks, valuation of the projects, promotion to local and international operators and support in the closing of the transaction.  The concession of both transmission lines was granted to Interconexion Electrica – ISA (Colombia).

Supply of Energy from New Hydroelectric Plants

Peru

Concessions were awarded to Pucara Generation Consortium, Huallaga Generation Company and Cerro del Aguila, to build three new hydroelectric plants

US$ 1,800 MM

Advisor to the Government of Peru, through ProInversion, in the promotion of new hydroelectric plants to be built by the private sector, to which the government would provide an offtake contract for the energy and power to be supplied by the new plants. The tasks of LPC included structuring of the concession process, identification and analysis of business risks, valuation of the project, support in the preparation of bidding rules and contracts, identification of possible interested parties, promotion among local and international operators, and support in the closing of the transactions. Nine companies pre-qualified and six submitted offers, of which three were awarded the offtake contracts on account of their lower asking price for the energy to be provided.  Winners were Pucara Generation Consortium, Huallaga Generation Company and Cerro del Aguila; they are to build three new hydroelectric plants which will add 912 MW to the system, 544 MW of which will be acquired by Electroperu.  Estimated aggregate investment in these plants is US$ 1.8 billion. 

Trujillo-Chiclayo Electricity Transmission Line

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 101.4 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 304 Km, 500 kV Trujillo-Chiclayo transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession was granted to ISA (Colombia).

Ilo Power Reserve Project

Peru

The concession was awarded to Enersur  – Suez Group, now Engie

US$ 188.2 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of a thermal plant in Ilo, to be used as emergency unit.  The project involves the construction of a dual fuel (gas and diesel or fuel oil) 400 Mw thermoelectric plant. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the projects, support in the preparation of bidding rules and concession contracts, promotion among international and local operators, and support in the closing of the transaction.  The concession of the Ilo plant was granted to Enersur S.A. - now Engie (Suez Group), which offered US$ 7,190/Mw-Month.

Chilca-Marcona-Montalvo Electricity Transmission Line

Peru

The concession was awarded to Abengoa, from Spain

US$ 291.0 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of the 900 Km, 500 kV Chilca-Marcona-Montalvo electricity transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the project among local and international operators, and support in the closing of the transaction. The concession was granted to Abengoa (Spain).

Interconexion Electrica S.A., Financing of new Project to be built in Peru

Peru/Colombia

Financing through a “Project Finance” arrangement with the IFC was carried out successfully

US$ 40.5 MM

Advisor to Interconexion Electrica S.A. – ISA on the financing arrangement for the construction of the Oroya-Carhuamayo-Paragsha-Derivacion Antamina and Aguaytia-Pucallpa electricity transmission lines.  LPC’s role included analysis of alternatives and sources of financing, contact with financial agencies and selection of the most suitable option, support in the due diligence of lenders and negotiation of credit contracts.  A “Project Finance” arrangement with the IFC was finally chosen and implemented.

Red Electrica de España

Peru

The concession of both transmission lines was awarded to Red Electrica de España

US$ 74 MM

Advisor to Red Electrica de España on its successful bid for the concession of electricity transmission assets in southern Peru.  The project consisted of a BOOT concession for the construction of Socabaya-Moquegua (107 km in 220 kV) and Puno-Moquegua-Tacna (337 km in 220 kV) transmission lines. This transaction was the company’s first direct investment abroad.  The mandate included analysis of the regulatory framework, valuation of the concession, negotiation of contracts, analysis of competitors, preparation of bidding documents, and support in closing of the transaction. 

EPSA

Colombia

The concession was awarded to the Consortium formed by Houston Industry, from the USA and La Electricidad de Caracas, from Venezuela

US$ 632.2 MM

Leader of the team advising the Colombian Government on the privatization of Empresa de Energía del Pacifico S.A., integrated electricity company, with generation capacity of 850 MW and distribution in the Cauca Valley (covering an area with two million inhabitants).  The advisory included design of the transaction, valuation, promotion to international investors, preparation of bidding documents and contracts, and support in the bidding process and closing of the transaction.  Operating consortium Houston Industry (US) / La Electricidad de Caracas (Venezuela) acquired the company, and a minority stake was sold to regional entities and the "solidarity sector".

Chincha Nueva and Nazca Nueva Substations

Peru

The concessions of both substations was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 18.3 MM

Leader of the Consortium advising the Government of Peru, through ProInversion, for the concession to the private sector of two Electric Power Substations: 220/60 kv Chincha Nueva Substation and 220/60 kv Nazca Nueva Substation. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contracts, identification and analysis of business risks, valuation of the projects, promotion to local and international operators and support in the closing of the transaction. The ISA Group (Colombia) was granted the concessions.

Tintaya-Azangaro Transmission Line

Peru

The concession was awarded to Red Electrica del Sur, from Spain

US$ 12.1 MM

Leader of the Consortium advising the Government of Peru, through ProInversion, for the concession to the private sector of the 128 Km., 220 kV Tintaya-Azangaro transmission line. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contract, identification and analysis of business risks, valuation of the project, promotion to local and international operators and support in the closing of the transaction. Red Electrica del Sur (Spain) was granted the concession.

Aguaytia-Pucallpa Transmission Line

Peru

The concession was awarded to Terna, from Italy

US$ 8.8 MM

Leader of the Consortium advising the Government of Peru, through ProInversion, for the concession to the private sector of the 132 Km., 138 kV Aguaytia-Pucallpa transmission line (second circuit). Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contract, identification and analysis of business risks, valuation of the project, promotion to local and international operators and support in the closing of the transaction. Terna Plus (Italy) was granted the concession.

Montalvo-Los Heroes Electricity Transmission Line and Associated Substations

Peru

The concession was awarded to Red Electrica Internacional, from Spain

US$ 20.2

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 128.8 Km, 220 kV Montalvo-Los Heroes transmission line, and associated substations. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contract, identification and analysis of business risks, valuation of the project, promotion to local and international operators and support in the closing of the transaction.  Red Electrica Internacional (Spain) was granted the concession.

Carapongo Substation and Associated Electricity Transmission Lines

Peru

The concession was awarded to Interconexion Electrica S.A. – ISA Group, from Colombia

US$ 42.7

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the Carapongo Substation and associated electricity transmission lines. Tasks of LPC included structuring of the process, identification and analysis of business risks, financial valuation, support in the preparation of bidding rules and concession contract, promotion of the project among local and international operators, and support in the closing of the transaction. Interconexion Electrica S.A. – lSA (Colombia) was granted the concession.

Azangaro-Juliaca-Puno Electricity Transmission Line

Peru

The concession was awarded to the Consortium Red Electrica Internacional from Spain and AC Capitales SAFI from Peru

US$ 36.8 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 114 Km, 220 kV Azangaro-Juliaca-Puno transmission line. Tasks of LPC included structuring of the process, support in the preparation of bidding rules and concession contract, identification and analysis of business risks, valuation of the project, promotion to local and international operators and support in the closing of the transaction.  Red Electrica Internacional-AC Capitales SAFI Consortium was granted the concession.

Friaspata-Mollepata Electricity Transmission Line and Orcotuna Substation

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 38.8 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 90.5 Km, 220 kV Friaspata-Mollepata Transmission Line and of the 220/60 kV Orcotuna Substation.  Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession of both projects was granted to Interconexion Electrica S.A. - ISA (Colombia).

Moyobamba-Iquitos Electricity Transmission Line

Peru

The concession was awarded to ISOLUX, from Spain

US$ 499.26 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 630 Km, 220 kV Moyobamba-Iquitos transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession was granted to Isolux (Spain).

La Planicie-Industriales Electricity Transmission Line

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 35.4 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 16.6 Km, 220 kV La Planicie-Industriales transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession was granted to Interconexion Electrica S.A. - ISA (Colombia).

Machu Picchu-Quencoro-Onocora-Tintaya Electricity Transmission Line

Peru

The concession was awarded to Abengoa, from Spain

US$ 114.3 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 355.8 Km, 220 kV Machu Picchu-Quencoro-Onocora-Tintaya transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession was granted to Abengoa (Spain).

Electricity Distribution Companies

Colombia

US$ n/a

Member of the Consortium advising the Government of Colombia in the structuring and granting of the concession of three electricity distribution companies, Electrificadora del Caqueta, Electrificadora del Huila and Centrales Electricas de Nariño. Our tasks included financial due diligence of the companies and review of the regulatory framework, development of business plans, valuation of the companies, definition of the sales strategy, preparation of the Information Memorandum, promotion of the concessions among international operators, and support in the closing of the transactions. The process was suspended by the Government.

Power Reserve Project –Pucallpa and Puerto Maldonado Plants

Peru

The concession of both plants was awarded to the Consortium Energias del Peru, formed by Energia Integral Andina, Equitec, Energy Partners Chile Generadora de Energia Ltda. and Green Power Trading Services, from Colombia and Chile

US$ 34.1 MM 

Advisor to the Government of Peru, through ProInversion, for the concession of Power Reserve Plants Project, which involves the construction of thermoelectric plants in Pucallpa and Puerto Maldonado, 35 Mw and 15 Mw, respectively.  Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. Energias del Peru Consortium, formed by Energia Integral Andina, Equitec, Energy Partners Chile Generadora de Energia Ltda. and Green Power Trading Services (Colombia and Chile) was awarded the concession of both plants, with an offer of
US$ 9,919/Mw-Month.

Carhuaquero-Cajamarca Norte-Caclic-Moyobamba Electricity Transmission Line

Peru

The concession was awarded to Cobra, from Spain

US$ 106.9 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 401.5 Km, 220 kV Carhuaquero-Cajamarca Norte-Caclic-Moyobamba transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concession among local and international operators, and support in the closing of the transaction. The concession was granted to Cobra Instalaciones y Servicios S.A. (Spain).

Eten Power Reserve Project

Peru

The concession was awarded to the Consortium formed by Cobra and Enersa, from Spain

US$ 112.9 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of a thermal plant in the port of Eten, to be used as emergency unit.  The project involves the construction of a dual fuel (gas and diesel or fuel oil) 200 Mw thermoelectric plant. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the projects, support in the preparation of bidding rules and concession contracts, promotion among international and local operators, and support in the closing of the transaction. The concession was granted to Cobra-Enersa Consortium (Spain), which offered US$ 7,627/Mw-Month.

Talara Power Reserve Project

Peru

The concession was awarded to Empresa Electrica de Piura – Enel Group, from Italy

US$ 109 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of a thermal plant in Talara, to be used as emergency unit.  The project involved the construction of a dual fuel (gas and diesel or fuel oil) 200 Mw thermoelectric plant. The role of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion among international and local operators, and support in the closing of the transaction.  The concession was granted to Empresa Electrica de Piura S.A., which offered US$ 7,815/Mw-Month.

Santa Teresa Hydroelectric Plant

Peru

The concession was awarded to Luz del Sur

US$ 170 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of the Santa Teresa hydroelectric plant (91 Mw) which will take the water used by the Machu Picchu plant. The mandate included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion among international and local operators, and support in the closing of the transaction. The concession was granted to Luz del Sur.  

Talara-Piura Electricity Transmission Line

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 14.6 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of the 102 Km, 220 kV Talara-Piura electricity transmission line. Our tasks included structuring of the concession process, identification and analysis of business risks, valuation of the projects, support in the preparation of bidding rules and concession contracts, promotion of the project among local and international operators, and support in the closing of the transaction. The concession was granted to ISA (Colombia).

Tintaya-Socabaya Electricity Transmission Line

Peru

The concession was awarded to the Consortium REI-AC Capitales, from Spain and Peru

US$ 43.6 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of the 207 Km, 220 kV Tintaya-Socabaya electricity transmission line. Tasks of LPC included structuring of the concession process, identification and analysis of business risks, valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the project among local and international operators, and support in the closing of the transaction. The concession was granted to the consortium REI-AC Capitales (Spain/Peru).

Machu Picchu-Abancay-Cotaruse Electricity Transmission Line

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 62.5 MM

Advisor to the Government of Peru, through ProInversion, for the concession to the private sector of the 204 Km, 220 kV Machu Picchu-Abancay-Cotaruse electricity transmission line. The role of LPC included structuring of the concession process, identification and analysis of business risks, financial valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the concessions among local and international operators, and support in the closing of the transaction. The concession was granted to ISA (Colombia).

Zapallal-Trujillo Electricity Transmission Line

Peru

The concession was awarded to Interconexion Electrica – ISA Group, from Colombia

US$ 167.5 MM

Advisor to the Government of Peru, through ProInversion, in the concession to the private sector of the 530 Km, 500 kV Zapallal-Trujillo electricity transmission line. Our tasks included structuring of the concession process, identification and analysis of business risks, valuation of the project, support in the preparation of bidding rules and concession contract, promotion of the project among local and international operators, and support in the closing of the transaction. The concession was granted to ISA (Colombia).

Energy Provision Contracts

Peru

The concession was awarded to SN Power, from Norway

US$ 300 MM

Advisor to the Government of Peru, through ProInversion, in granting to the private sector contracts for the provision of electricity for public service. The project involves the construction and commercial start-up of new power generation plants. The tasks of LPC included structuring of the concession process, identification and analysis of business risks, valuation of the project, support in the preparation of bidding rules and concession contract, identification of possible interested parties, promotion among local and international operators, and support in the closing of the transaction. The contract was granted to SN Power from Norway, who offered to build the Cheves Hydroelectric Power Plant of 168 Mw.

Carhuamayo-Carhuaquero Electricity Transmission Line

Peru

The concession was awarded to Abengoa, from Spain

US$ 106.1 MM

Advisor to the Government of Peru, through ProInversion, in the concession of the 692 Km, 220 kV Carhuamayo-Carhuaquero electricity transmission line.  The mandate included valuation of the concession, structuring of the transaction, promotion among specialized operators, as well as support in the negotiation of the contract and closing of the transaction.  The concession was awarded to Abengoa (Spain).

Mantaro-Caraveli-Montalvo and Machu Picchu-Cotaruse Electricity Transmission Lines

Peru

The concession was awarded to ISONOR, from Spain

US$ 181 MM

Advisor to the Government of Peru, through ProInversion, in the concession of two electricity transmission lines: Mantaro-Caraveli-Montalvo (761.8 Km in 500 kV), and Machu Picchu-Cotaruse (204 Km in 220 kV).  The mandate included valuation of the concession, structuring of the transaction, promotion among specialized operators, as well as support in the negotiation of contracts and closing.  The concession of both lines was awarded to ISONOR.

Chilca-La Planicie-Zapallal Electricity Transmission Line

Peru

The concession was granted to Interconexion Electrica – ISA Group, from Colombia

US$ 14.5 MM

Advisor to the Government of Peru, through ProInversion, in the concession of the 94 Km, 220 kV and 500 kV Chilca-La Planicie-Zapallal electricity transmission line.  The mandate included valuation of the concession, structuring of the transaction, promotion among specialized operators, as well as support in the negotiation of the contract and closing of the transaction.  The concession was awarded to ISA (Colombia).

Santa Rita

Peru

US$ n/a

Advisor to the developers of the Santa Rita hydroelectric power plant (300 MW) on the introduction of a strategic operator and the raising of limited recourse financing.  Our role included analysis of the regulatory framework, due diligence and valuation of the project, identification of potential partners and introduction of the project, reception and evaluation of offers, and support in the negotiation of contracts.

Regional Electricity Companies,

Ecuador

US$ n/a

Advisor to the Ecuadorian Government on the validation of the valuation of 23 electric companies in the country, which include five generation, one transmission and seventeen distribution companies, prior to their privatization. Our role included analysis and validation of the operative and financial assumptions of the valuation model, analysis of the economic situation of the companies and the regulatory framework.

Interconexion Electrica S.A.

Peru/Colombia

The concession was awarded to Interconexion Electrica – ISA, from Colombia

US$ 65.4 MM

Financial advisor to ISA (Colombia) on its successful bid for the 30-year BOOT concession of the 242 km in 220 kV Oroya-Carhuamayo-Paragsha-Derivación Antamina electricity transmission line, and the 131 km in 138 kV Aguaytía-Pucallpa transmission line.  This acquisition is ISA’s first investment abroad.  Our role included due diligence of the project; analysis of regulatory and institutional frameworks; preparation of the financial model; sensitivity analysis; development of bidding strategy; analysis and negotiation of bidding rules and concession contracts; preparation of bidding documents, representation of ISA before local authorities, support in the incorporation of ISA’s Peruvian subsidiary, and closing of the transaction.

Interconexión Eléctrica S.A./Internexa

Colombia

US$ n/a

Financial advisor to the Colombian Government on the privatization of Interconexion Eléctrica S.A. (ISA), Colombia’s national electricity transmission and telecommunications carrier company.  Isa owns 80% of the Colombian transmission grid, with an equity valued in approximately US$450 million.  This is the first privatization of an electricity transmission company via sale of shares in Latin America.  The mandate included analysis of regulatory framework and of institutional organization of the power sector, structuring of the process to achieve optimal results for the Government, valuation of the different business units: electricity transmission, telecommunications (carrier of carriers) and dispatch center, preparation of the information memorandum and promotion of the company to international operators, preparation of the bidding rules and sales contract, as well as negotiation of contracts.

National Electricity Transmission Company

Dominican Republic

US$ n/a

Financial advisor to the Government of the Dominican Republic on the concession of the Electricity Transmission Company.  The project consisted in a 30-year concession of the national electricity transmission system, including certain commitments regarding expansion of the system and improvement of service reliability.  Our role included analysis of the regulatory framework, technical audit of assets and expansion projects, analysis of privatization options, structuring of concession conditions, valuation of the system, promotion to international operators, preparation of bidding documents and concession contracts.  For this advisory, LPC structured and led a consortium with international lawyers and technical advisers.

Mantaro-Socabaya Transmission Line

Peru

The concession was awarded to the Transmantaro Consortium, formed by Hydro Quebec from Canada and Graña y Montero from Peru

US$ 179.2 MM

Advisor to the Peruvian Government on the concession of Mantaro-Socabaya Transmission Line, the first ever concession via a BOOT scheme carried by the Peruvian Government.  This 700 km long in 220 kV, and 300 MW capacity transmission line interconnects Peru’s North and South transmission grids.  Our role included structuring of the concession, preparation of bidding documents and concession contract, preparation of the financial model, valuation, promotion among international operators, and support in the bidding process and closing. The winner was Transmantaro Cosortium, formed by Hydro Quebec (Canada) and Graña y Montero (Peru).  

Gloria Group

Peru

The concession was awarded to the Gloria Group, from Peru

US$ 145.6 MM

Advisor to the Gloria Group, a Peruvian industrial conglomerate, on its successful bid for the acquisition of four State-owned regional electricity distributors in Peru: Electronorte, Electrocentro, Electronoroeste and Hidrandina.  Our role included due diligence, technical analysis and valuation of the companies, review of the business plan, support in the determination of the bidding strategy, in the negotiation of contracts and closing.

CESLUR

Peru

US$ n/a

Advisor to a group of Peruvian investors in their offer for the privatization of Electro Sur Medio (regional electricity distribution company).  Our role included due diligence, analysis of the regulatory framework, valuation and bidding strategy, among other activities.