MAIORA’s Renewable Fund 1 sub-participated in a Peruvian development JV for 2 projects with a joint 460MWp in Arequipa Province. Together with its JV partner, these projects were sold to Trina / Canadian solar who will take over the construction and completion of the projects. MRF1 will retain a profit participation in the projects.

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The retained profit participation is the real signal here: MAIORA is offloading the Arequipa JV stake to Trina/Canadian Solar but keeping exposure to the 460MWp portfolio’s upside, which looks more like a de-risking move than a clean exit. Whether that participation is tied to operating performance or just a sale milestone matters, because it determines how much downside MAIORA still carries. For a fund, that distinction is the difference between recycling capital and simply changing the shape of the risk.
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