:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/CDOWUX4OANCH3CHVQRIO5XEGHY.jpg "The Italian company that owns Edesur has sold its power generation business in the country for $102 million 1")
After a week in the headlines, Enel, the Italian company that owns Edesur in the country, announced that it had sold its local power generation business for $102 million.
Edesur must return the total of the last bill to the users most affected by the power cuts
Minister Sergio Massa instructed the Energy Secretary and the regulator to apply sanctions to the electricity distributor, which was fined 1,000 million pesos
The buyer is Central Puerto, the partner company of Enel’s 25% in Edesur and which seems to be one of its potential buyers. Central Puerto is a company with well-known owners, such as Carlos Miguens Bemberg (formerly Quilmes), the Escasany family (Bank of Galicia), Guillermo Reca (former executive at investment bank Merrill Lynch) there the Ruete Aguirre brothers (former Roberts Bank). He left Central Puerto a few months ago Nicholas Caputothe friend of Mauricio Macri who is a shareholder of Mirgor, as described today in Moneyone of the newsletters of Economic GlobeLiveMedia (which you can subscribe to from this link).
Enel is leaving the country: he announced it last November, as part of a strategy that also includes the sale of assets in other countries, such as Peru and Romania. Thus, he first sold his production activity and then, from next month, he will try to do so with his electricity distribution company, Edesur.
Power outages: Energy demand hit record high in second week of February
Edesur recorded a peak of 4,181 megawatts on Friday 10, which caused the interruption of supply in some areas of AMBA. How is the company working to provide improved service in the short term?
“Today, the Enel Group, through its subsidiary Enel Argentina, has signed and concluded the agreement for the sale to the energy company Central Puerto SA (“Central Puerto”) of the 75.7 % of the Group in the thermal production company Enel Generación Costanera (“Costanera”). At the same time, Enel today signed the agreement on the sale to Central Puerto of the Group’s 41.2% stake in the thermal generation company Central Dock Sud (“Dock Sud”), which – under certain conditions – should be concluded by the first quarter of 2023,” the Italian said in a statement.
“Costanera, located in the city of Buenos Aires, is the largest thermal power plant in Argentina, which was built with a total capacity of 2,305 MW. Dock Sud owns and operates a gas-fired power plant located in the Avellaneda district of Buenos Aires, with an installed capacity of 870 MW. Central Puerto is the second largest power producer in Argentina, with nearly 5 GW of installed capacity, listed on the Buenos Aires and New York Stock Exchange (NYSE),” they added.
Edesur apologized to its customers and again asked the government to raise rates so it could invest
“The structural solution occurs because businesses can have sufficient resources to operate,” said Claudio Cunha, country manager of Enel Argentina, the distributor’s parent company.
In addition, Enel Argentina operates the El Chocón hydroelectric plant. This is another asset to come.
News in development