Celepsa, a Grupo UNACEM company, completes purchase of Termochilca S.A. for US$141 million

• The transaction was completed on January 19, and the amount will be paid directly by Celepsa through bank financing.
• This acquisition will allow Celepsa to double its power supply capacity for the Peruvian market, adding 300 MW.

For US$141 million, Celepsa, the Grupo UNACEM power generation company, acquired Termochilca as part of its portfolio strategy. This transaction represents an important milestone for the Group, as it will enable the subsidiary to double its current installed capacity, strengthening its position as a relevant player in the Peruvian electricity market.

“This acquisition improves our risk management, reduces our vulnerability to hydrological seasonality and climate dependency, and increases the predictability of our results. Termochilca will allow us to add other solar and wind energy projects to our portfolio in the future,” said Pedro Lerner, CEO of Grupo UNACEM.

Termochilca S.A. is a power generation company with a combined cycle thermal power plant located in the district of Chilca – Cañete, with an installed capacity of 300 MW.

Eduardo Herrera, Celepsa’s general manager, stated that “this asset will allow us to have a hydrothermal platform of 600 MW once we integrate it into the group. At that time, we will support our customers’ consumption with 60% of energy from renewable sources and 40% from Termochilca”.

Regarding the financing of the purchase, Lerner said that given Celepsa’s current solid financial position, the company will make the acquisition directly through a bank loan. And, he also indicated that after receiving the authorization from INDECOPI, Celepsa will acquire 100% of the shares representing the capital stock of Termochilca S.A. and 100% of the value of the guaranteed claims (senior debt and subordinated bonds); as established in the sale procedure regulated in the trust contract of the respective trust patrimony of said company.

Celepsa, a subsidiary of Grupo UNACEM, began operations in 2005 and has two hydroelectric power plants with state-of-the-art technology, El Platanal and Marañón, which generated a total of 1279 GWh in 2021. The company has US$385 million in assets and an estimated EBITDA for 2022 of US$40 million.