Chilquinta Energía, the electric utility in Chile owned by Sempra Energy, has closed its acquisition of two major transmission lines for $225.5 million cash. The seller was a South American subsidiary of Virginia-based AES Corp.
Chilquinta Energía now owns 100 percent of Compañía Transmisora del Norte Grande S.A.
With the latest deal, it gained a 114-mile, 110-kilovolt transmission line and substations in the central Valparaiso-Santiago region of Chile, located in Chilquinta Energía’s service territory, and an 82-mile, 220-kilovolt transmission line in the northern Antofagasta region. Both transmission lines are currently in operation.
The acquisition “fits with our business focus on owning and operating utility infrastructure with a transmission-and-distribution risk profile,” said Dennis Arriola, executive vice president and group president for Sempra Energy (NYSE: SRE), in a statement released by the company on Dec. 20.
AES trades on the New York Stock Exchange as AES.