Iberdrola Sells Chilean Hydro Stakes

Chilean energy company CGE, through its CGE Generación subsidiary, is to acquire stakes in two hydroelectricity companies in Chile as part of an asset divestment programme by Spanish group Iberdrola.

The stakes involved are 94.74% of Iberoamericana de Energía (Ibener) and 55% of Empresa Eléctrica Licán valued at a total of $297.55 million for a capital gain of $118 million (€85 million).

Ibener owns two hydroelectricity power stations in Chile, the 75 MW Peuchén plant and the 49 MW Mampil plant, while Eléctrica Licán owns a 17 MW hydro project currently under construction. 

Iberdrola’s Strategic Plan projects €2.5 billion in divestments this year.

The CGE Group, with more than 100 years of experience in the Chilean electricity sector, currently controls an installed capacity of more than 300 MW and production of 14,000 gigawatt hours (GWh) a year.

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