Actis Sells Orygen, Peru’s Second-Largest Power Platform, to Grupo Romero

Luxembourg, March 13, 2026 – Actis, a growth market investor focused on sustainable infrastructure, has completed the sale of Orygen, Peru’s second-largest power generation platform, to Grupo Romero, a prominent Peruvian conglomerate. The deal marks a significant shift in ownership for the energy producer and signals a continued trend of consolidation within the Peruvian power sector.

Orygen’s Scale and Scope

Orygen boasts a 2.3GW installed capacity, a substantial portion of Peru’s total electricity generation – roughly 14%, according to DealFlow Perspectives. Its portfolio is diversified across wind and solar (28%), hydro (34%), and thermal gas (38%) assets, positioning it as a key player in Peru’s energy transition. Actis launched Orygen in 2024 by acquiring Enel’s stake in Enel Generación Perú and Compañía Energética Veracruz, carving out the business to operate as an independent power producer.

Actis’s Value Creation Strategy

Actis’s investment in Orygen focused on strengthening its position as a leading renewable energy platform in Peru. During its ownership, the firm prioritized digital transformation, strategic repositioning, and growth initiatives. A key achievement was the successful issuance of a US$1.2 billion, 10-year bond in September 2024 – the largest single-tranche Peruvian private corporate bond sale at the time. This financing significantly bolstered Orygen’s capital structure and demonstrated investor confidence in the platform. Actis also oversaw the delivery of the 177MW Wayra 2 wind farm and initiated construction of the 100MWp Wayra Solar project, expanding its renewable energy capacity.

Grupo Romero’s Expansion into Energy

The acquisition by Grupo Romero, through its InfraCorp energy and infrastructure investment platform, represents a significant expansion into the power generation sector for the Peruvian conglomerate. Grupo Romero is one of Peru’s largest diversified businesses, with interests spanning finance, industry, and infrastructure. The deal involves the purchase of 100% of Niagara Generation S.A.C., the holding company controlling approximately 92.35% of Orygen Perú. The transaction is subject to approval from Peru’s competition authority, INDECOPI.

Commercial Momentum and Renewable Energy Focus

Beyond capacity expansion, Orygen has actively sourced over 1.7TWh of renewable power from third-party developers in the last 12 months. This demonstrates a commitment to supporting the growth of renewable energy in Peru and providing cleaner power options to commercial and industrial clients. The firm’s focus on renewables aligns with Peru’s broader energy goals and positions it to benefit from increasing demand for sustainable energy solutions.

Implications for Peru’s Energy Market

The transfer of ownership from Actis, a global financial investor, to Grupo Romero, a local industrial group, reflects a maturing of Peru’s infrastructure market. This trend suggests a shift towards long-term operational control and potential synergies with other business units within Grupo Romero’s portfolio. The deal could accelerate investment in Peru’s energy sector, particularly in renewable energy projects, as Grupo Romero leverages Orygen’s existing assets and development pipeline. The acquisition also underscores the growing importance of energy security and self-sufficiency in Peru, as a local conglomerate takes control of a critical piece of the nation’s power infrastructure.

Actis’s Broader Energy Investments

This exit represents a successful outcome for Actis, which has invested US$11 billion in the energy sector since its inception and currently manages US$8.5 billion in energy assets as of Q4 2025. The firm has a track record of building, operating, or contracting approximately 42GW of capacity and completing over 50 exits across real assets. Nicolas Escallon, Managing Director, Energy Infrastructure at Actis, highlighted Orygen as an example of the firm’s strategy of proactively sourcing high-quality businesses and applying operational and financial expertise to create value.

Regulatory Approval and Next Steps

The completion of the transaction is contingent upon receiving approval from Peru’s competition authority, INDECOPI. The review process will likely focus on assessing the potential impact of the acquisition on market competition and ensuring that the deal does not lead to anti-competitive practices. Once regulatory approval is secured, Grupo Romero will assume full control of Orygen, integrating it into its existing energy and infrastructure portfolio. Further details regarding Grupo Romero’s strategic plans for Orygen are expected to be announced following the completion of the acquisition.