Sojitz Corporation of America (SCA) has signed a deal with Grupo T-Solar Global, a subsidiary of Grupo Isolux Corsan, to acquire 49% stake in two solar power plants in Peru.
Located in Arequipa, Peru, the Majes and Reparticion solar power plants have a combined installed capacity of around 44.32MW.
SCA also made investment in the solar power plants, which are connected to Peru’s national power grid.
Operational since 2012, the projects have two 20-year fixed-price power purchase agreements guaranteed by the Ministry of Energy and Mines of Peru.
The company will further strengthen collaboration with Isolux through electricity and infrastructure projects in the Americas.
Peru is expected to increase its renewable power generation capacity to close to 1,000MW by the end of 2030.
SCA currently owns power generation projects in Mexico and the Caribbean, in addition to developing liquefied natural gas export projects for the Asian market.
Image: The Majes and Reparticion solar power plants have a combined installed capacity of around 44.32MW. Photo: courtesy of Sojitz Corporation.