49773 - ENGIE Peru SLL

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Summary of Investment Information

Project Number

49773

Company Name

Engie Energia Peru S.A.A.

Date SPI Disclosed

Apr 14, 2025

Country

Peru

Region

Latin America and the Caribbean

Projected Board Date

Jun 16, 2025

Environmental Category

A - Significant

Status

Active

Last Updated Date

Oct 2, 2025

Department

Regional Industry INF LAC & EUR

Industry

Infrastructure

Previous Events

Approved : Jun 16, 2025
Signed : Jul 29, 2025
Invested : Sep 30, 2025

Sector

Electric Power Other (Including Holding Companies)

Project Description

The proposed investment consists of an unsecured corporate facility of up to US$600 million (up to US$250 million from IFC's own account and up to US $350 million mobilization) to ENGIE Energia Peru S.A. (“EEP” or “the Company”), to support the Company in achieving its transformational non-conventional renewable energy (NCRE) target for the next five years. The facility will be structured as Sustainability Linked Loan and the first loan of the facility has a total amount of US$ 120 million. The proceeds of the loan will (i) refinance the investment to acquire Duna and Huambos, two operating wind farms of 36.8MW in total, (ii) finance the development and construction of a 51.4 MW solar plant expansion, Intipampa, and (iii) refinance the development and construction of a 26.5MW BESS, currently under operation.

Associated Advisory Engagement

The Project does not include associated advisory services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	250.0
Equity

Development Impact

The project is expected to have positive environmental effects by replacing thermal energy sources with renewable energy sources thus reducing emissions from the power sector. IFC anticipates that the proposed expansion of the Solar PV plant will result in GHG emission savings of 61,461tCO2e annually. Additionally, the Project will improve the resilience of Peru’s energy system by increasing its share of RE and supporting the adoption of BESS which enables the integration of RE into the energy mix, effectively reducing dependency on fossil fuels. The Project which supports the construction and development of a 26.5 MWh BESS located in the Lima region, the largest in the country, is expected to have significant demonstration effects illustrating the role of large-scale BESS adoption in accelerating RE deployment.

IFC’s additionality in this Project is financial and non-financial. Financial additionality is provided through an innovative financial structure as this will be the company’s first Sustainability Linked Loan (SLL). Given its market-leading position, the use of an SLL by EEP is expected to have an important signaling effect for the rest of the industry given that the use of SLLs in Peru’s energy sector is still in incipient stages. IFC is also expected to play a lead role in mobilizing a diversified pool of investors for the project. In terms of non-financial additionality, IFC will be helping the client to implement its SLL by helping the company draft the SLL framework and coordinate a Second Party Opinion (SPO).

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Net GHG Emissions	ton CO2e per year		Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment

E&S Category Rationale / Risks and Mitigation

This is a category A project. Key environmental and social (E&S) risks and issues include: (i) Effective implementation of the corporate ESHS standards, (ii) company and project-level organizational capacity to assess and manage ESHS risks; (iii) labor, working conditions and grievance mechanism, (iv) contractor and supply chain EHS management, (v) OHS management; LFS and emergency preparedness and response, (vi) pollution prevention and waste management, (vii) community health and safety and security,(viii) land acquisition and involuntary resettlement, (ix) sensitive and high-value biodiversity, and (x), company's stakeholder engagement activities related to management of E&S aspects and its grievance mechanism.

Contacts

For Inquiries About the Project, Contact

ENGIE Energia Peru S.A.
Mario Spelucin
Head of Corporate Finance
+51 950 689 581
mario.spelucin@engie.com
Av. República de Panamá 3490 San Isidro – Lima
https://engie-energia.pe/

For Inquiries and Comments About IFC, Contact

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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

Contact Person: Cecilia Rabitsch

Company Name: ENGIE Energia Peru

Address: Republica de Panamá Avenue 3490

Email: Cecilia.Rabitsch@engie.com

Phone: +51 6167979

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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