Context: How Bolsa de Valores de Lima works, and what it makes issuers disclose · Peru on the LatAm Power Map
Peru runs on roughly 2,700 megawatts of ENGIE Energía Perú’s power — gas, hydro, and wind humming together from Cajamarca to Ica. For nearly three decades this Lima-listed utility has been the steady, diversified hand on Peru’s light switch.
| Full name | ENGIE Energía Perú S.A.A. |
|---|---|
| Ticker / Exchange | ENGIEC1 — Bolsa de Valores de Lima (BVL) |
| Headquarters | Lima, Peru |
| Sector | Electricity generation & transmission |
| Employees | ~500 |
| Market value (market cap) | PEN 2.77 billion (~USD 810 million) |
| Yearly sales (revenue, FY 2024) | ~PEN 2,475 million (~USD 724 million) |
| Net profit (TTM) | PEN 250 million (~USD 73 million) |
| Net margin (TTM) | ~11.3% |
| Return on equity (ROE, TTM) | 5.84% |
| Price-to-earnings (P/E, trailing) | 11.1× |
| Dividend yield | ~3.8% |
| Website | engie-energia.pe |
What it is
ENGIE Energía Perú is one of Peru’s largest electricity generators, with ten power plants spread across six regions and over 2,700 MW of installed capacity. It draws on a diversified portfolio of technologies — water, natural gas, and renewable energy — making it the most diversified generator in the country.
It drives an average of more than 8,800 gigawatt-hours generated annually, and its 16 transmission lines spanning more than 476 km carry that power from its plants to substations across Peru’s national grid. The company was formerly called EnerSur S.A. and took the ENGIE name in March 2016.
Who owns it
The controlling shareholder is International Power S.A., the ENGIE Group’s holding vehicle, which owns 61.77% of the shares. The free float — the portion available to outside investors on the open market — is 38%.
ENGIE Energía Perú is part of the ENGIE Group, a global leader in low-carbon energy production and services. The company was formed in 1996 and listed on the Lima Stock Exchange in October 2005.
Who runs it
El Mehdi Ben Maalla was appointed General Manager (CEO) of ENGIE Energía Perú in 2023, replacing Rik De Buyserie. As of 2025, Ben Maalla moved to Chairman of the Board, with the company’s executive committee now listed under a new general manager.
The incoming CEO’s name is not disclosed in available sources at this time.
On March 20, 2025, the appointment of the members of the Board of Directors for the period from March 2025 to March 2028 was approved. CFO name is not disclosed in available sources.
The money, in plain words
In 2024, ENGIE Energía Perú’s revenue reached USD 724 million, up 7.8% from USD 672 million the year before — roughly PEN 2,475 million (US$724 mn) at today’s exchange rate (our calculation). It keeps about 11 cents of profit from every sol of sales — a net profit margin of ~11.3%, reasonable for a regulated-utility mix of long-term contracts and spot sales.
For every sol owners have invested, the company earns about 5.8 back a year — a return on equity of 5.84%, modest but typical of a capital-heavy utility. Earnings before interest, tax, depreciation and amortisation — the cash the business generates before financing and wear-and-tear costs — reached USD 271.3 million in 2024.
At a price-to-earnings ratio of 11×, the stock trades at a mild discount to Latin American utility peers, while a large portion of its sales are secured under long-term power purchase agreements, often exceeding five years, giving cash-flow visibility unusual for a spot-power market.
What it is doing now
In March 2024, the company completed the purchase of two operating wind farms — Duna and Huambos, each with 18.4 MW of capacity — plus two development-stage wind projects, Naira I and Naira II (each roughly 20 MW), all in Peru’s Cajamarca region. The acquisition was ultimately financed by a long-term USD 120 million loan from the International Finance Corporation (IFC), which also funds the expansion of its Intipampa solar plant.
The Intipampa solar expansion adds 51.7 MW for roughly USD 48 million of capital investment and is expected to enter commercial operation in December 2026. The company reports a pipeline of around 1,600 MW of renewable energy projects in various stages of development.
What to watch
- Hydrology risk: hydroelectric plants account for a significant share of installed capacity, while gas plants provide flexibility — a dry year squeezes output and lifts fuel costs simultaneously.
- Leadership transition: Ben Maalla’s move to board chair in 2025 means a new CEO is now in the operating seat; execution of the 1,600 MW renewable pipeline depends on that continuity.
- IFC debt load: EBITDA for the trailing twelve months to September 2025 fell to USD 254 million from USD 271 million in 2024, partly reflecting the new IFC borrowing — debt service will tighten if generation revenues soften.
- Renewable ramp-up: ENGIE Energía Perú joined Peru’s S&P/BVL ESG index in 2024, signalling growing institutional-investor scrutiny of how quickly the renewable pipeline converts from megawatts-on-paper to megawatts-on-grid.
Sources
- ENGIE Energía Perú — Corporate Profile (company IR site)
- ENGIE Energía Perú — Board of Directors / Directory (company IR site)
- ENGIE Energía Perú — Press Release: New General Manager appointment (company IR site)
- Apoyo & Asociados (Fitch affiliate) — ENGIE Energía Perú credit rating report, November 2025 (Peruvian rating agency primary filing)
- Credicorp Capital — ENGIE Energía Perú Equity Research, 3Q 2024 (BVL-filed broker report)
- Stock Analysis — ENGIEC1 Statistics & Valuation
- Stock Analysis — ENGIEC1 Revenue History
- Bolsa de Valores de Lima — ENGIE Energía Perú issuer page
- Market data: EODHD.
This is news, not investment advice.
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