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Red Eléctrica acquires three new electricity lines in Chile
13/07/2018
- Red Eléctrica purchases transmission assets belonging to Centinela Transmisión in the north of Chile for 117 million dollars
Red Eléctrica Chile, a subsidiary of Red Eléctrica Internacional, has acquired 100% of the share capital of Centinela Transmisión, owned by Minera Centinela, for a total of 117.2 million dollars. The transaction includes not only operating assets but also projects currently under construction. The income generated by these assets, once the projects currently underway have been commissioned, will be around 9 million dollars per year.
Centinela Transmisión manages three 220 kilovolt lines (totalling 265 km of line circuit) in the Antofagasta region of northern Chile that connect the substations of Encuentro - El Tesoro, El Tesoro - Esperanza and El Cobre - Esperanza.
The acquisition also encompasses the enlargement projects for these facilities foreseen in Chile’s Transmission System Expansion Plan for the 2016-2017 period, and which is currently being managed and carried out by Centinela Transmisión.
For the Red Eléctrica Group, this acquisition represents an important milestone in its business diversification strategy internationally as it strengthens its position as an electricity transmission company in Chile where adquired 50% of Transmisora Eléctrica del Norte (TEN) in 2016, a company that commissioned the first interconnection between the Norte Grande Interconnected System (SING) and the Central Interconnected System (SIC) of the country, and 70% of Red Eléctrica del Norte (Redenor), the company awarded a project in 2017 in the area of Pozo Almonte, near the border with Peru.
With the acquisition of these assets, Red Eléctrica Internacional will now manage a grid of 1,729 km in Chile, therefore increasing its presence in the north of the country, and together with the 1,314 km of line circuit the Company already manages in southern Peru, make up the facilities that Red Eléctrica manage in the area, thereby placing the Company in a preferential position for a future interconnection between Chile and Peru.
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