Duke Energy International has bought two hydroelectric plants in Chile as part of a $415 million deal announced Wednesday.
The Duke Energy subsidiary bought CGE Group’s Iberoamericana de Energía Ibener subsidiary, whose Peuchén and Mampil hydro power plants on the Duqueco River have a combined capacity of 140 megawatts.
Duke Energy International has operated in Chile since July, when it acquired the 240-megawatt Yungay diesel generating plant. Chile is now the subsidiary’s fourth-largest country in generating capacity.
Duke “will continue to evaluate additional growth projects in Latin American countries, like Chile, where there is strong growth potential and a stable regulatory system,” Andrea Bertone, president of the international business, said in a statement.
Duke Energy International owns, operates or has substantial interests in about 4,600 megawatts of generating capacity in Latin America, about 70 percent of it hydroelectric.
Citigroup and Banchile Citi acted as Duke’s advisors on the Ibener sale. Duke expects to close on a secured financing from a group of local banks for about half the purchase price in early 2013.