Orygen is the name under which the British investment fund Actis will take charge, through its subsidiary Niagara Energy, of Enel Generación’s portfolio in Peru. Previously, Enel also sold its electricity distribution business in Lima to the Chinese state-owned CSGI.
The company begins its operations by inheriting the largest renewable energy generation portfolio in the country, with a solid and diversified energy matrix made up of four technologies: solar, wind, hydro and thermal gas, whose installed capacity amounts to more than 2.2 gigawatts (GW).
Orygen will be led by Italian executive Marco Fragale. The company’s brand new CEO is a mechanical engineer from the Polytechnic of Milan and a Master in Engineering from the Helsinki University of Technology.
He also has an MBA from the SDA Bocconi School of Management in Milan. He has 25 years of experience in the energy sector, driving the transition to cleaner energy sources.
“Energy originates everything. Originates new business, growth and prosperity. Orygen was born with the purpose of bringing sustainable, reliable and competitive energy to the industries that energize the Peruvian economy,” said Fragale.
The new brand will have a broad portfolio of 13 generation plants, which include the most important solar and wind technology complexes in Peru. It will also manage a robust line of business with renewable projects of more than 12 GW.
“We were born committed to the development of an ecosystem that protects the planet, improves the quality of life and offers competitive prices for everyone,” emphasized the CEO of Orygen.
Orygen will invest US$1 billion in the next 5 years
As part of its expansion plan, Orygen will have an investment of around US$1,000 million in the next 5 years to build new solar, wind and hybrid projects (solar and wind) in different parts of the country, which will allow adding more than 800MW to its renewable capacity.
“We have projects in very advanced stages of development, so we hope to have news in the coming months. “We are excited to begin this new chapter in our history with the possibility of continuing to deliver the renewable energy that Peru needs to reduce its carbon footprint and boost people’s well-being,” he added.
Currently, Orygen’s renewable projects are diversified in 7 regions of Peru: Piura, Lambayeque, La Libertad, Cajamarca, Ica, Moquegua and Arequipa, which is a differential value in the market.
“More than 5GW of our pipeline is in an advanced state of development, including more than one project that will soon reach Ready-to-Build status. In this way, Orygen will continue to lead the country’s renewable growth,” he concluded.
Source: Larepublica
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