I Squared Capital to Acquire IC Power’s Latin American and Caribbean Businesses

NEW YORK–(BUSINESS WIRE)–I Squared Capital, through its ISQ Global Infrastructure Fund II, has
entered into an agreement to acquire the Latin American and Caribbean
businesses (the “LatAm Businesses”) of Inkia Energy Limited, a
wholly-owned subsidiary of IC Power Ltd. (“IC Power”). The transaction
includes only the LatAm Businesses. IC Power’s Israeli asset, OPC Energy
Ltd., is not being sold as part of the transaction.

One of the largest independent power producers in Latin America, Inkia
has a highly contracted portfolio of approximately 3.4 gigawatts of
gross installed capacity in nine countries, with a fleet of highly
efficient hydroelectric, wind and thermal facilities across the region.
The company also owns an electricity distribution company servicing
approximately 1.7 million customers. Headquartered in Lima, Inkia is the
second largest power producer in Peru (based on installed capacity).

“This transaction reinforces I Squared Capital’s commitment to
infrastructure in Latin America. The Inkia portfolio comes with a highly
seasoned and successful development team as well as a robust pipeline of
renewable and natural-gas generation projects,” commented Adil
Rahmathulla, Partner at I Squared Capital. “We are excited to work with
them to provide efficient, reliable and affordable electricity across
the region.”

Credit Suisse and Norton Rose Fulbright acted as advisors to I Squared
Capital. The sale is expected to close in the coming months, subject to
customary closing conditions and approvals.

About I Squared Capital: I Squared Capital is an independent
global infrastructure investment manager focusing on energy, utilities,
telecommunications and transport in the Americas, Europe, and select
high growth economies. The Firm has offices in New York, Houston,
London, New Delhi, Hong Kong and Singapore.

Contacts

I Squared Capital
Andreas Moon, +1-212-339-5339
Managing
Director and Head of Investor Relations
andreas.moon@isquaredcapital.com