Endesa Chile buys out partner in Gas Atacama
Endesa Chile's board of directors executed right of first refusal and acquired a 50% stake in Gas Atacama from investment firm Southern Cross for US$309 million.
The two parties would have 30 days to sign off on documents and contracts to wrap up the Gas Atacama transaction, Endesa Chile said.
Endesa Chile already owns the other half of Gas Atacama. Initially founded by CMS Energy (United States, 50%) and Endesa (Spain, 50%), GasAtacama Holding began operations in mid 1999.
GasAtacama owns and operates a 1,200km-gas pipe that transports natural gas from north-western Argentina to the Atacama Plant (which it both owns and operates), and also transports gas from the GNL reception and regasification terminal in Mejillones (Chile's second region) to the Taltal Power Plant owned by Endesa, which generates electricity for users of the Chilean central energy system.
GasAtacama's electricity generation is covered by the Atacama Power Station, a combined cycle plant fired by natural gas or diesel, located on the Bay of Mejillones, 50km north of the city of Antofagasta. The plant has two 370 MW generator units, each with two gas turbines and one steam turbine.
Endesa Chile is the largest electric utility company in Chile. Endesa Chile also owns a 51% stake in the controversial HidroAysén project in Aisén Region, which would build 5 hydropower dams on two of Chile's largest wild rivers, the Baker and the Pascua.
Country news
-
-
May 20, 2014
Chilean Government to halt hospital concessions
According to Chilean newspaper, La Tercera, Chile's Ministry of Health has conducted an analysis that shows that construction costs of hospitals carried out under concessions are more expensive than the costs of those built through a traditional method. Read more -
May 22, 2014
Abertis acquires from Santander stakes in Chilean toll roads
Abertis has reached agreement with Santander Group to acquire Infraestructuras Americanas, company owner of 42.3% of Inversora de Infraestructuras S.L. (Invin) for €291 million, payable in August 2019. The acquired company will include non-recourse debt of €162 million maturing in December 2018, unconnected to Santander Group. Read more -
June 12, 2014
Astaldi receives award of Chilean hospital concession
Astaldi Concessioni S.R.L. Read more -
June 18, 2014
Santander to provide equity financing for wind projects in Chile
Banco Santander, the largest bank in the Eurozone by market value, will acquire stakes in four Chilean wind developments from U.K.-based Rame Energy. The bank will provide with US$69 million of equity funding for the wind power projects. Read more -
June 24, 2014
Chile tenders Santiago airport concession
Beginning in September 2015 when the current concession comes to an end, the new contract will have a duration of 15 years lasting until 2030. Technical and economic bids are scheduled on September 30. . Read more
