Enel, the Italian company that owns Edesur, has closed the sale of its generation business. The buyer is Central Puerto. It remains with the Costanera and Dock Sud plants. It becomes the country’s main generator. It’s a $100 million deal. In the buyer, the Bemberg family stands out and Nicolás Caputo was part of the company.
Italy’s Enel has been heavily criticized by the government over weekend power outages. A sector of the governing party asked for the concession to be revoked, but in the end the Economy Minister -Sergio Massa- decided on a 100 million dollar fine and speeding up the verification.
“Enel Argentina has signed and completed the sale agreement to the energy company Central Puerto of the group’s 75.7% stake in the thermoelectric generation company Enel Generación Costanera,” reported the selling company.
“At the same time, Enel today signed the agreement for the sale to Central Puerto of the 41.2% stake held by the Group in the thermoelectric generation company Central Dock Sud (“Dock Sud”), which – under certain conditions – expects to close by the first quarter of 2023,” they added.
The total consideration for the sale of Enel’s stake in the two companies amounts to 102 million dollars.
“Costanera, located in the city of Buenos Aires, is the largest thermal power plant in Argentina, built with a total capacity of 2,305 MW. Dock Sud owns and operates a gas-fired power plant located in the Avellaneda neighborhood of Buenos Aires. Aires, with a installed capacity of 870 MW”, they specified.
“Central Puerto is the second largest power generator in Argentina, with nearly 5 GW of installed capacity, listed on the Buenos Aires and New York Stock Exchange (NYSE).” With this acquisition, it will become the first electric generator in the country.
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Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.