BAKU, Azerbaijan, August 7. SOFAZ has invested
in Inkia Energy, Peru's largest independent power producer, in
partnership with I Squared Capital (“I Squared”), a leading global
infrastructure investor.


This was announced by State Oil Fund of Azerbaijan (SOFAZ).


In February 2026, Canadian pension fund Canada Pension Plan
Investments Board (“CPPIB”) acquired a 50% stake in Inkia Energy
from I Squared, with the remaining 50% stake acquired by an I
Squared-managed continuation vehicle. SOFAZ has invested in the
continuation vehicle as an underlying investor.


Inkia Energy operates a diversified portfolio of hydroelectric,
gas, solar and wind assets with an effective capacity of 2.6 GW,
holding a 22% share of Peru's electricity generation market. The
company also holds a development pipeline of over 4 GW primarily
concentrated across renewable energy projects, with a firm
commitment to expanding its strategic presence in this sector over
the long term.


Inkia Energy is a major player in Peru's energy system,
distinguished by strong operational performance. The investment
aligns with SOFAZ's strategy of enhancing the Fund's geographic
diversification into Latin America through allocation to resilient
assets such as power generation - a sector characterized by strong
fundamentals and attractive risk-return characteristics.







About SOFAZ


The State Oil Fund of the Republic of Azerbaijan (SOFAZ),
established in 1999, is a sovereign wealth fund dedicated to
managing the nation’s oil and gas revenues, with a commitment to
safeguarding and enhancing wealth for future generations. As a
long-term investor with nearly USD 70 billion in assets under
management, SOFAZ pursues a diversified investment strategy that
encompasses global opportunities across various sectors, including
fixed income, equities, gold, real estate, and infrastructure.


About ISQ


I Squared Capital is a leading independent global infrastructure
investor dedicated to the mid-market, managing over $60 billion in
assets. Founded in 2012, I Squared has evolved into one of the most
diverse infrastructure investors in the world, with investments
across power & utilities; transportation & logistics; digital
infrastructure; environmental infrastructure; and social
infrastructure, providing essential services to millions of people
worldwide. Today, the portfolio includes over 100 companies
operating in more than 70 countries. Headquartered in Miami, the
firm has offices in Abu Dhabi, London, Munich, New Delhi, São
Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.