• Exit of Peru’s second-largest power generation platform to Grupo Romero, one of Peru’s largest diversified conglomerates
• Actis launched Orygen in 2024 and positioned the company as the leading renewable energy platform in Peru
Actis, a leading growth market investor in sustainable infrastructure, has completed the sale of Orygen, a large and diversified power generation business in Peru, to Grupo Romero, one of the most prominent financial and industrial conglomerates in Peru, through an affiliate managed by InfraCorp, Grupo Romero’s Energy and Infrastructure investment platform.
Orygen is Peru’s second-largest power generation platform, with 2.3GW of installed capacity diversified across wind and solar (28%), hydro (34%) and thermal gas (38%) assets. During Actis’ ownership, Orygen strengthened its position as one of the country’s leading power producers and the largest renewables portfolio in Peru.
Actis launched Orygen in 2024 on the back of the acquisition of Enel’s stake in Enel Generación Perú and 100% of Compañía Energética Veracruz. Actis carved the business out from Enel and established Orygen as an independent power producer focused on delivering reliable and cleaner power to Peru’s growing economy. Actis bolstered the leadership team and advanced a targeted value-creation plan centered on digital transformation, strategic repositioning and growth, enhancement of its commercial value proposition and capital structure optimisation.
Actis’ period of ownership saw the delivery of Wayra 2, a 177MW wind farm, and the start of construction of Wayra Solar, a 100MWp solar project, while further advancing its development pipeline. Commercially, Orygen has sourced over 1.7TWh of renewable power from third-party developers in the last 12 months, strengthening its value proposition to commercial and industrial clients and contributing to the deployment of wind and solar capacity in-country.
A key milestone under Actis ownership was the successful issuance, in September 2024, of a US$1.2 billion, investment grade rated, 10-year bond. The bond was the largest-ever single-tranche Peruvian private corporate bond sale at the time and Actis’ largest capital-markets debt raise to date. The financing materially strengthened Orygen’s capital structure and underlined investor confidence in the platform, its strategic positioning and the quality of its asset base.
Together, these initiatives helped consolidate Orygen as a national champion in Peru’s power market. The investment thesis was built around portfolio optimisation, renewables expansion and balance-sheet enhancement, with the successful execution of that plan culminating in an accelerated exit.
Nicolas Escallon, Managing Director, Energy Infrastructure at Actis, commented: 'From the outset, Orygen reflected the kind of opportunity Actis seeks to pursue: sourcing high-quality businesses proactively, often before they come to market, and applying our operational and financial expertise to build further value. In less than two years, we have consolidated the platform into a market leader and crystallised significant value for our investors.'
Alberto Estefan, Managing Director, Energy Infrastructure at Actis, said: 'Actis identified a compelling opportunity in Orygen to acquire a high-quality platform and create value through carve-out execution. Over our ownership period, we established the business as an independent market leader, strengthened its management team, delivered new renewable generation assets, oversaw record EBITDA growth over the two-year period and enhanced its capital structure. We’re delighted to bring this investment full circle and believe Latin America remains one of the most compelling regions globally for energy investment, underpinned by strong demand fundamentals, supportive market dynamics and a significant pipeline of opportunities.'
Actis has invested US$11 billion in the energy sector overall since inception and holds US$8.5 billion of energy assets under management(1). Since inception, the firm has built, operated or contracted circa 42GW of capacity and realised over 50 exits across real assets.
(1) As at Q4 2025
Source: Actis
