Altérra has entered a joint‑venture with I Squared, contributing to a $600m corporate vehicle aimed at expanding power assets in Peru. The partnership taps I Squared’s track record in emerging‑market infrastructure and Altérra’s regional expertise. Investors view the deal as a bid to capture growing electricity demand as the country upgrades its grid overall.

The vehicle will pool capital from Altérra’s existing shareholders and I Squared’s private‑equity fund, creating a platform that can acquire, develop and operate generation and transmission projects. By consolidating assets under a single structure, the partners aim to achieve economies of scale and improve financing terms, which should lower cost of capital for future builds in the region by 2027.

Market observers note that the deal strengthens Altérra’s foothold in South America while giving I Squared a direct pipeline of regulated revenue streams. With Peru’s power sector attracting over $1bn of new investment this year, the joint‑venture positions both firms to benefit from policy‑driven demand. The transaction underscores a broader shift toward consolidated infrastructure platforms in the region for investors today.