Duke Energy acquires 140MW hydroelectric portfolio in Chile

Duke Energy International (DEI), a subsidiary of Duke Energy Corporation, has purchased Iberoamericana de Energía Ibener (Ibener) in Chile for $415m.

The acquisition enhances DEI’s hydroelectric portfolio with the addition of Peuchén and Mampil run-of-river hydroelectric powerplants with an installled capacity of 140MW.

Power produced at the two stations, using water from the Duqueco River, is transmitted to the Central SIC grid at the Charrúa 220 Kv transmission system.

DEI president Andrea Bertone remarked that Chile is an attractive market to expand the company’s business and the new assets are a significant addition to its existing South American hydroelectric portfolio.

“We will continue to evaluate additional growth projects in Latin American countries, like Chile, where there is strong growth potential and a stable regulatory system,” added Bertone.

The company plans to fund half the acquisition amount with financing from a group of local banks, which it expects to close in the first quarter 2013.