Duke Energy divests remaining international assets for US$1.2bn

13 Oct 2016

US power group Duke Energy has reached an agreement to sell its international activities in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for approximately US$1.2bn, completing the exit of international business.

The transaction will include 2.3 GW of power capacity: 575 MW of power capacity in Argentina (435 MW hydro and 140 MW gas), 549 MW in Peru (367 MW of hydro and 192 MW of gas), 362 MW in Chile (222 MW of HFO and 140 MW of hydro), 360 MW in Guatemala (277 MW of HFO and 83 MW of coal), 293 MW in El Salvador (HFO) and 163 MW of diesel-fired capacity in Ecuador. Duke Energy International also operates power transmission lines and a gas processing plant in Peru.

Duke Energy began the process of exiting its International Energy business segment (4.4 GW of power capacity and marketing of power, gas and gas liquids in Central and South America) in February 2016. Earlier in October 2016, Duke Energy and China Three Gorges reached an agreement on the sale of Duke Energy's holdings in Brazil for approximately US$1.2bn. The transaction covers 2,090 MW, including 8 hydroelectric plants with 2,057 MW and owns two small hydroelectric plants, each with a capacity of 16.5 MW. The transactions don't include Duke Energy's 25% stake in National Methanol Company, a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether (MTBE).

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