Hydroelectric

Duke Energy Sells Latin America Assets for $1.2 Billion

By Editors of Power Engineering

Duke Energy announced it has completed the sale of 2,300 MW of power assets in six Latin America countries for $1.2 billion.

The hydroelectric and thermal assets in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina were sold to I Squared Capital. Additionally, Duke seeks to sell assets in Brazil to China Three Gorges Corp.

“We are pleased to have closed this transaction so quickly,” said Duke Energy chairman, president and CEO Lynn Good. “The sale of the Brazilian assets is expected to be completed in the near future.”

Duke has previously announced it is exiting the Latin America market to focus on its U.S. business.

However, the company’s 25 percent equity investment in National Methanol Company – a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether, a gasoline additive – is not included in the sales to I Squared Capital and China Three Gorges Corp.