Grupo Romero Acquires Orygen: Control of Second Largest Power Generator in Peru

Luxembourg, March 15, 2026 – In a significant development for Peru’s energy sector, Grupo Romero, one of the country’s largest diversified conglomerates, has finalized the acquisition of Orygen, the nation’s second-largest power generation platform. The deal, completed through an affiliate managed by InfraCorp, Grupo Romero’s energy and infrastructure investment platform, marks a major shift in the Peruvian energy landscape and signals continued investment in renewable energy sources. This acquisition underscores the growing importance of sustainable infrastructure in Latin America and the appeal of Peru’s energy market to major investors.

The sale, announced on March 13, 2026, by Actis, a leading growth market investor in sustainable infrastructure, brings to a close a nearly two-year period of ownership. Actis initially launched Orygen in 2024 following the acquisition of Enel’s stake in Enel Generación Perú and the full takeover of Compañía Energética Veracruz. Under Actis’ stewardship, Orygen was strategically positioned as a leader in renewable energy within Peru, consolidating its position as a key player in the country’s power generation capacity. The transaction highlights the increasing demand for reliable and cleaner power in Peru’s expanding economy.

Orygen’s Portfolio and Capacity

Orygen boasts a substantial installed capacity of 2.3 gigawatts (GW), making it a critical component of Peru’s energy infrastructure. The company’s diversified portfolio includes wind and solar assets representing 28% of its capacity, hydroelectric power contributing 34%, and thermal gas accounting for the remaining 38%. This diverse mix allows Orygen to provide a stable and resilient power supply to meet the varying energy demands of the country. The company’s strategic asset allocation reflects a commitment to both renewable and conventional energy sources, ensuring a balanced approach to power generation.

During Actis’ ownership, significant investments were made in expanding Orygen’s renewable energy capabilities. Notably, the Wayra 2 wind farm, with a capacity of 177 megawatts (MW), was completed, and construction commenced on the Wayra Solar project, a 100 MWp solar facility. Actis also facilitated Orygen in sourcing over 1.7 terawatt-hours (TWh) of renewable power from third-party developers in the last 12 months, further strengthening its commitment to sustainable energy and bolstering its value proposition to commercial and industrial clients.

Grupo Romero’s Expansion into Energy

Grupo Romero’s acquisition of Orygen represents a significant expansion of its presence in the energy sector. As one of Peru’s most prominent financial and industrial conglomerates, Grupo Romero has a long history of successful investments across various industries. The acquisition, executed through InfraCorp, demonstrates the group’s commitment to long-term investments in critical infrastructure and its confidence in the growth potential of Peru’s energy market. InfraCorp’s role as the investment platform underscores Grupo Romero’s strategic focus on energy and infrastructure development.

The move positions Grupo Romero as a major force in Peru’s power generation industry, potentially rivaling other key players in the market. The company’s extensive experience in managing large-scale projects and its strong financial resources are expected to contribute to Orygen’s continued growth and success. Grupo Romero’s involvement is anticipated to drive further innovation and investment in the Peruvian energy sector, fostering a more sustainable and efficient energy system.

Actis’ Investment Strategy and Returns

Actis’ investment in Orygen exemplifies its strategy of acquiring high-quality businesses in growth markets and applying operational and financial expertise to enhance their value. The firm’s decision to carve out Orygen from Enel and establish it as an independent power producer proved successful, allowing the company to focus on delivering reliable and cleaner power to Peru. Actis bolstered the leadership team and implemented a targeted value-creation plan centered on digital transformation, strategic repositioning, and capital structure optimization.

While the financial details of the sale remain undisclosed, Actis highlighted the significant value created during its ownership period. The completion of Wayra 2 and the commencement of Wayra Solar, coupled with record EBITDA growth over the two-year period, demonstrate the success of Actis’ investment strategy. In September 2024, Orygen issued a $1.2 billion (4.13 billion new sol) investment-grade bond, further strengthening its financial position. Power Technology reports that Actis has invested $11 billion in the global energy sector since its inception and currently manages $8.5 billion in energy assets.

Implications for Peru’s Energy Future

The acquisition of Orygen by Grupo Romero is expected to have a positive impact on Peru’s energy sector, fostering increased competition and driving further investment in renewable energy. Peru has been actively seeking to diversify its energy sources and reduce its reliance on fossil fuels, and this transaction aligns with those goals. The country’s commitment to renewable energy is supported by favorable government policies and a growing demand for sustainable energy solutions.

The increased capacity and efficiency brought about by Grupo Romero’s investment are likely to benefit both commercial and industrial consumers, as well as residential customers. A more reliable and affordable power supply will contribute to economic growth and improve the quality of life for Peruvians. The continued development of renewable energy projects will help to reduce the country’s carbon footprint and mitigate the effects of climate change.

Key Takeaways

• Grupo Romero has acquired Orygen, Peru’s second-largest power generation platform, from Actis.
• Orygen has a diversified portfolio with 2.3 GW of installed capacity, including wind, solar, hydro, and thermal gas assets.
• The acquisition strengthens Grupo Romero’s position in the energy sector and underscores its commitment to infrastructure investment.
• Actis successfully transformed Orygen into a leading renewable energy platform during its two-year ownership.
• The transaction is expected to drive further investment in renewable energy and contribute to a more sustainable energy future for Peru.

Looking ahead, the integration of Orygen into Grupo Romero’s portfolio is expected to be a key focus. Further investments in renewable energy projects, such as solar and wind farms, are anticipated, as is the modernization of existing infrastructure. The company will likely continue to explore opportunities to source renewable power from third-party developers, expanding its portfolio and strengthening its position in the market. The Peruvian government’s energy policies and regulatory framework will play a crucial role in shaping the future of Orygen and the broader energy sector.

The next key development to watch will be Grupo Romero’s detailed strategic plan for Orygen, expected to be unveiled in the coming months. This plan will likely outline the company’s investment priorities, growth targets, and sustainability initiatives. Stakeholders, including investors, consumers, and policymakers, will be closely monitoring these developments to assess the long-term impact of the acquisition on Peru’s energy landscape.

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