31 Dec '12, 12pm

Duke to buy Chilean hydro assets for $415m: The international arm of US-based Duke Energy has agreed to acquire

Duke to buy Chilean hydro assets for $415m 31 Dec 2012 The international arm of US-based Duke Energy has agreed to acquire the Chilean division of hydro specialist CGE Group for $415m. Purchasing Iberoamericana de Energia Ibener will provide Duke with two hydroelectric plants with a combined capacity of 140MW. Duke intends to close on a second financing for the deal in the first quarter 2013, with capital expected to come from a group of local banks. Citigroup and Banchile Citi acted as advisors for the transaction. Andrea Bertone , president of Duke Energy International, said, ‘Chile is an attractive market to grow our business and these assets are an excellent addition to our existing South American hydroelectric power plants. ‘We will continue to evaluate additional growth projects in Latin American countries, like Chile, where there is strong growth potential and a sta...

Full article: http://www.newenergyworldnetwork.com/investor-news/renewa...

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