HomeWorld RegionsLatin AmericaDuke Energy stengthens position in Chile's lucrative power market

Duke Energy stengthens position in Chile’s lucrative power market

The recent acquisition of Iberoamericana de Energàƒ­a Ibener SA (Ibener), sees Duke Energy Corporation (NYSE:DUK) of the US further strengthen its presence in the Latin American electricity market.

Duke Energy International (DUI), a subsidiary of Duke Energy, has acquired Ibener, in a deal valued at $415m.

Ibener is a subsidiary of CGE Generacion SA, Chile’s largest electricity generation company.

As a part of the acquisition, DUI will also acquire two run-of-river hydroelectric plants in Peuchen and Mampil, with a total capacity of 140 MW.

Andrea Bertone, DUI’s president, confirmed that Chile “is an interesting market for the growth of our business” and praised that country’s strong economic growth and its stable regulatory system.

DUI expects to complete secured financing for 50 per cent of the purchase price in the first quarter of this year.

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