Red Eléctrica Internacional has announced that it has reached an agreement with Bow Power to acquire 100% of CCNCM, the owner of a concession contract for the 220 kilovolts (kV) Carhuaquero-Cajamarca Norte-Cáclic-Moyobamba power transmission line and associated substations, located in northern Peru. The transaction is valued at US$205 million.

CCNCM has been managing and operating 372 km of 220 kV and 138 kV circuit, in addition to four substations in the regions of Cajamarca, Amazonas and San Martín, since the end of 2017, under a 30-year concession contract with the Peruvian state.

The transaction, which includes debt assumption, is subject to obtaining the relevant authorizations. CCNMC generates around US$18 million revenue per year.

Red Eléctrica Internacional has been present in Peru since 1999. With this new acquisition, it will now be the holder of a total of six electricity transmission concession contracts in the country that amount to 1,686 km of line circuit.