Do all the Israelis traveling through South America know that at least some of the electricity they're using there has blue-and-white origins? For several years, the Israel Corporation Ltd. has been active in the local power market, with its electricity arm – IC Power – a partner in eight companies in seven nations, including Panama, Bolivia, Chile, El Salvador, and Peru. Peru is the Israel Corporation's flagship in South America. Through its local subsidiary, the company owns 75% of Kallpa, one of the largest power plants in Peru, as well as 21% of another power company called Edegel. Currently, the company is expanding Kallpa, which is powered by natural gas. When the work is complete, the plant will produce some 860 megawatts of electricity. Related stories: Landau: Israel will meet clean energy goals TAU wins energy excellence award Saudi Arabia to generate 10% solar power by 2020 The company has also invested hundreds of millions of dollars to build a hydroelectric power plant in the Andes, currently in the initial stages of construction. The Israel Corporation's plants produce 11.34% of Peru's electricity. The Kallpa plant, 60 km. south of Lima. (Courtesy photo) IC Power CEO Javier Garcia says that the company sees Peru as a convenient locale for expansion because of the combination of competition and not-overly-severe regulation. "The Peruvian market is developing and its consumption increases every year," Garcia says. Edegel's hydroelectric power plant. (Courtesy photo) "In Panama, for example, there is too much competition and it doesn't pay to enter," he explains. Garcia says that Bolivia's economic climate attracts very few investors, despite the fact that the Israel Corporation's investments there have yielded "nice profits." Garcia says that IC Power wants to develop in Chile and Colombia, too, and enter the wind power market. What about solar energy? "It's not profitable enough at this point," Garcia says. Tom Ziv was a guest of the Israel Corporation in Peru. Follow Ynetnews on Facebook and Twitter