Red Eléctrica signs an agreement to acquire CCNCM from Bow Power
Red Eléctrica Internacional has reached an agreement with Bow Power to acquire 100% of CCNCM, the company holder of the concession contract for the 220 kilovolt (kV) Carhuaquero-Cajamarca Norte-Cáclic-Moyobamba electricity line and associated substations, in the northern area of Peru. The transaction is valued at US$205 million.
Since the end of 2017, CCNCM has been managing and operating, under a 30-year concession contract with the Peruvian state, 372 km of 220 kV and 138 kV circuit, in addition to four substations in the regions of Cajamarca, Amazonas and San Martín, all of them in the north of Peru.
The transaction, which includes debt assumption, is subject to obtaining the relevant authorisations. The revenue generated by CCNMC is around US$18 million per year.
Bow Power is a partnership between ACS Group and Global Infrastructure Partners.
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