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Who we are
Luz del Sur is a Peruvian electricity distribution company serving close to 1.3 million customers. Ranked as one of the largest companies in Peru, Luz del Sur holds more than 30% of the electricity distribution market and has been working to improve the quality of life of its customers, aligned with sustainable development and technology.
Luz del Sur Real Estate Account. Luz del Sur promotes electromobility and has the objective, in the short term, of installing electric charging stations (recharging centers for electric vehicles - it currently has one in Miraflores) and transforming most of its fleet to electric technology in the next 3 years, with more than 500 units (it currently has 22 vehicles).
In the last 6 years it has invested more than US$745 million to improve infrastructure and reach more citizens. Electricity rates are set by OSINERGMIN.
In addition, in order to venture into new businesses, we have the following subsidiary:
Inmobiliaria Luz del Sur
In 1997 we ventured into the real estate sector through our subsidiary Inmobiliaria Luz del Sur, with the construction of Torre Siglo XXI, an excellent 21-story office building, 30,000 m2, with a high level of finishes and the most advanced equipment and technology worldwide. The sale process was carried out successfully in conjunction with Graña y Montero, gaining valuable experience for selected future projects. On the part of Luz del Sur, this project was managed entirely by professionals from the company, under the direction of the Commercial Management.
Mission and vision
Mission:
We are a solid and profitable energy company, with successful investments and prudent cost and risk management, which improves the quality of life of our clients and increases the value for shareholders.
We have ethical and social responsibility principles, we promote the development and well-being of our employees with the continuous commitment to maintain safety in our operations and respect for the environment.
Vision:
To be the most efficient and innovative energy company, with the highest safety standards in Latin America.
Our history
1994
Luz del Sur (formerly Edelsur) was incorporated in Perú as a private juridical entity on January 1st, 1994. On August 18th, 1994, Ontario Quinta A.V.V. - currently Ontario Quinta S.R.L. - acquired 60% of the Company’s shares from the Peruvian State via international public tender.
1996
As the result of a divestment in August 1996, the current Luz del Sur was incorporated with the transfer of the electrical distribution concession and associated assets to the latter. It established its legal domicile in the city of Lima, its corporate object being to develop distribution and sale of electricity.
1998
By means of a public deed dated June 26, 1998, the Company conformed to the General Law of Corporations, adopting the corporate structure of a publicly traded corporation and consequently its current company name of “Luz del Sur S.A.A.”
1999
In April 1999, Sempra Energy acquired shares in Luz del Sur. In September 1999, the Peruvian Opportunity Company S.A.C. (POC) acquired 22.46% of the shares of the Company by means of a public takeover bid carried out through the Lima Stock Exchange.
2004
On April 1st, 2004, POC made a public offering of 9.67% of the shares of Luz del Sur.
2007
Pursuant to AEI’s purchase of PSEG’s interest in Luz del Sur in December 2007, POC made a special bid to acquire 0.056% of the Company’s common stock.
2010
In 2010, the company expanded its corporate activity in order to include the activities of energy generation and transmission.
2011
In April 2011, Sempra Energy acquired the indirect interest that AEI had in Luz del Sur, with which it increased its indirect ownership in the company to 75.94%. Subsequently, in September 2011, Sempra Energy International Holdings NV, within the framework of its associate status in the Joint Association Agreement signed with Sempra Energy International Chile Holdings IBV, acquired 18,918, 954 shares, approximately 3.89% of the shares of Luz del Sur in a public takeover bid carried out through the Lima Stock Exchange. This resulted in Sempra Energy acquiring a total indirect ownership of 79.83% of the distribution company’s equity.
2013
In December 2013, SEIH transferred its 18,918,954 shares in Luz del Sur (equivalent to approximately 3.89% of the total shares of the Company) to POC.
2014
In December 2014, POC acquired 18,625,594 shares through the Lima Stock Exchange, increasing Sempra Energy’s holdings to 83.64% of the company’s capital stock.
2015
During 2015 Luz del Sur S.A.A. and Edecañete agreed to a merger, with the former absorbing the latter as of October 1, 2015. On September 17, 2015, Luz del Sur S.A.A. established a subsidiary, Inland Energy S.A.C, with the purpose that this company devote itself to electrical energy projects. To date it has a capital of S/ 305,362,168.00.
2016
On December 12, at their respective General Meetings, the shareholders of Luz del Sur and Inland Energy approved a simple corporate reorganization process by means of which Luz del Sur transferred the assets corresponding to the Santa Teresa 2, Majes and Garibaldi electricity generation projects. The reorganization was formalized on December 14, 2016.
2018
On January 16, 2018, at the Shareholders’ Meetings of Luz del Sur and Inland Energy SAC a simple reorganization process was approved, by means of which Luz del Sur contributed the assets corresponding to the Santa Teresa Hydroelectric Power Plant to Inland Energy SAC. The reorganization was formally completed on January 25, 2018.
2019 - 2020
On September 30, 2019, the acquisition agreement by China Yangtze Power International (Hongkong) Co., Limited of Sempra Energy's stake in Luz del Sur was announced, a transaction that took place on April 24 2020 when Yangtze Andes Holding Co. Limited (YAHCL), a subsidiary of China Yangtze Power International (Hongkong) Co., Limited, acquired the shares that Sempra Energy owned in Luz del Sur and other group companies.
2021
On January 22, 2021, POC launched a takeover bid for 66,622,985 shares with voting rights representing the share capital of Luz del Sur. On February 23, 2021, it was reported that the Board of Directors of China Yangtze Power Co., Limited had accepted the takeover bid for 65,718,458 shares of Luz del Sur at a price of US$8.5346 per share, paying a total of US$560,880,751.65 as consideration, with which YAHCL obtained indirect control of 97.14% of the shares of Luz del Sur through Andes Bermuda Ltd and POC.
1994
1996
1998
1999
2004
2007
2010
2011
2013
2014
2015
2016
2018
2019 - 2020
2021
Organization, Board of Directors and Annual Report
Values
Ethics - Do the right thing
- Act with honesty and integrity.
- Be transparent and fair.
- Fulfills our commitments.
- Win people's trust.
Respect - Value people
- Listen, communicate clearly, be honest.
- It supports the diversity of people and respects their point of view.
- Contribute individually to succeed as a team.
- Make security a lifestyle.
Excellent Performance - Deliver Outstanding Results
- Set difficult goals and achieve them, act with a sense of urgency.
- Reward outstanding performance and recognize the success of others.
- Keep learning and improving.
- Assume your responsibilities.
Vision of the Future - Define the future
- Be critical and strategic in your way of thinking.
- Anticipate market needs.
- Be a proactive person.
- Implement with discipline and manage risks.
Responsible Leader - Creating positive relationships
- Get involved, receive opinions, collaborate.
- Support our communities.
- Be a leader responsible for environmental conservation.
- Be consistent with the actions.