Chilquinta Energía Acquires Two Major Transmission Lines From AES Gener In Chile
Dec 20, 2018
SAN DIEGO, Dec. 20, 2018 /PRNewswire/ -- Chilquinta Energía, a subsidiary of Sempra Energy (NYSE: SRE) and one of Chile's largest electric distribution utilities, announced this week that it has completed the acquisition of two major regulated transmission lines from AES Gener S.A., a subsidiary of AES Corporation.
As a result of the successful completion of the transaction, Chilquinta Energía now owns 100 percent of Compañía Transmisora del Norte Grande S.A. (CTNG) for a total purchase price of approximately $225.5 million. CTNG, which is part of AES Gener S.A. and its subsidiary Empresa Eléctrica Angamos S.A., owns the regulated transmission assets in central and northern Chile.
"These transmission assets will expand our presence in the region and enhance our portfolio of reliable electric infrastructure that serves our customers in Chile," said Dennis V. Arriola, executive vice president and group president for Sempra Energy. "Additionally, this acquisition fits with our business focus on owning and operating utility infrastructure with a transmission-and-distribution risk profile."
The CTNG transmission assets acquired by Chilquinta Energía include a 114-mile, 110-kilovolt (kV) transmission line and substations in the central Valparaiso-Santiago region, located in Chilquinta Energía's service territory, and an 82-mile, 220-kV transmission line in the northern Antofagasta region. Both transmission lines are currently in operation.
Chilquinta Energía used cash to finance the transaction.
The transaction received regulatory approval from the Fiscalía Nacional Económica Nov. 29, 2018.
Chilquinta Energía, the third-largest distributor of electricity in Chile, and its affiliates serve more than 600,000 customers in the central and southern regions of Chile.
Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide.
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