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Endesa loses battle for Enersis

In recent developments in Chile, Enersis shareholders have rejected Endesa of Spain in its bid to gain control of the holding group, and Duke Energy of the USA has made a bid for control of Endesa Chile. The moves illustrate the enthusiasm that large energy companies still hold for Latin America, but also show that it is still a tough market to crack. Siân Green reports.

Spain

Endesa has bought a 3.64 per cent stake in energy group Repsol for Pta82.26bn (euro494m, $573m). The move helps to consolidate Endesa`s position in all areas of the country`s liberalising energy sector.

Chile

Alstom has received a $28m order from Endesa to supply a turnkey simple cycle power plant at Charrua, near Concepción. A 123 MW Frame 9E gas turbine running on light distillate will be commissioned in February 1999.

Enersis to sell Endesa stake

Chilean distribution group Enersis has announced that it is to sell its 25 per cent stake in Endesa Chile, the country`s largest generation company. The sale of the shares has been valued at $700-800m.

Complexities grow with liberalisation

The deregulation which is sweeping the EU`s energy sector has opened up opportunities for players old and new, particularly in industrial generation. Yet this is a complex market with many pitfalls and it is not getting any easier.

Spain

Endesa, Iberdrola, Union Fenosa and Hidroelectrica del Cantabrico met with representatives of Nymex and Nord Pool recently to discuss the development of a Spanish power futures exchange in Madrid. Such an exchange is unlikely to be operational next year, according to the electricity association, as the power pool only recently started trading.

EDF wins Rio Bravo contract

Mexico`s Federal Electricity Commission (CFE) has awarded Electricité de France International the contract for the construction and operation of the Rio Bravo power plant in Tamaulipas State. The contract is the latest of ten independent power projects that CFE is planning to tender this year.

Endesa consolidates domestic position

Spanish utility Endesa is to buy out minority shareholders in some of its subsidiaries as part of a Pta374bn ($2.67bn) re- organization plan designed to cement its position in the liberalising market.

A quiet contender

As Europe embraces deregulation, there is one country which has so far avoided the limelight: The Netherlands. The Dutch answer to deregulation? Drop cooperation, embrace competition, and start trading.

Spain

Grupo Endesa is to invest Pta6bn ($44.2m) in a new renewable energy park in northwest Spain. The project, in Galicia, will provide up to 41 MW of wind powered energy from 124 wind turbines. Endesa`s banking partner, BCH, will provide a 15 year credit of Pta5.65bn.