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AES Gener sells in Chile four plants for $300 mln

 

 

By Reuters Staff

SANTIAGO
Petroleumworld 12 26 2017

Chilean electricity generator AES Gener SA said on Thursday it would sell four of its plants for $300 million to Generadora Metropolitana, a company owned by affiliates of Andes Mining & Energy Corporate SA and EDF Energy Plc.

AES Gener said the sale would boost earnings by $65 million and that the funds would go toward strengthening the company's capital structure. The Renca, Nueva Renca, Los Vientos and Santa Lidia plants have a combined generating capacity of 750 megawatts.

The announcement comes as the company struggles with construction and financing issues at its Alto Maipo hydroelectric project near Santiago.

 



Reporting by Felipe Iturrieta; Writing by Luc Cohen; Editing by Lisa Shumaker from Reuters.

reuters.com 12 22 2017

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