EPM only has eyes for Chile

Empresas Publicas de Medellin (EPM) is set on generating and distributing energy in Chile with local and foreign partners. The Colombian group has signed a confidentiality clause regarding the plans it has but it would seem that EPM is thinking of 500 MW at a cost of US$700mil.

The project is expected to take shape midway through 2008, according to Sub-Gerente de Nuevos Negocios en Energia at EPM, Alejandro Jose Jaramillo. EPM is also considering bidding for Chilean holding company Saesa, put up for sale by PSEG of the US. The investment bank Credit Suisse has delivered a preliminary prospectus for the sale of assets in Saesa and, in two weeks' time, it will present the definitive version. Saesa has 640,000 clients and 118 MW of installed capacity in Chile. It is expected to sell for around US$700mil.

Publication: SABI - Business News
Provider: South American Business Information
Date: February 11, 2008

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