Enel sold its distribution business in northern Lima to the state-owned CSGI, after China Yangtze Power International acquired, in 2019, 86% of Luz del Sur. Xue Ning, president of the board of directors of the latter, assured that the investment climate in Peru is favorable.
Xue Ning, president of the board of Luz del Sur, ruled out that the recent purchase by China Southern Power Grid International (CSGI) of the electricity distribution portfolio in northern Lima, previously managed by Enel, represents a takeover of the market by the State. Chinese, parent company of both companies.
During the presentation of Luz del Sur’s new fleet of trucks and electric vehicles, the senior executive told La República that there is no risk of increasing rates for the end user, since prices are conditional on regulated long-term tenders. by Osinergmin.
Luz del Sur was purchased in 2019 by China Yangtze Power International (CYP), a subsidiary of China Three Gorges Corporation, from Sempra Energy for US$3.59 billion; while, the sale of Enel Distribución’s assets was closed in the second quarter of this year for an approximate amount of US$2.9 billion.
“You should not worry, we are two different companies. We are different companies and we are going to be competitive. We believe that in this way we are going to provide a better service to citizens,” he highlighted.
In this sense, Xue Ning assured that, among Luz del Sur’s plans, there is greater promotion of renewable energies in the local market, “not only for the environment, but for the well-being of citizens” and its clients.
“We believe that the investment market in Peru is very competitive. The legal framework is very good and the exchange rate is very stable, it does not change much. That is why we want to make more investments in the future, mainly in clean energy,” said Xue. Ning.
“And a third point is that Peru’s policies are very good for international investments. Therefore, we seek to continue investing and we feel a climate of friendliness among people,” concluded the president of the Luz del Sur board of directors.
Source: Larepublica
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