El Paso Corporation has reached an agreement to sell the majority of its Central American power assets for approximately $141 million.
The sale, to a subsidiary of Globeleq, includes investments in six power plants with a combined capacity of 304 MW.
The stations are located in El Salvador, Nicaragua, the Dominican Republic, and Panama. The two remaining power assets in the region, located in the Dominican Republic and Peru, are being sold in separate processes, which are at various stages of completion.
The sales are subject to regulatory consents.
The deal comes as part of El Paso’s efforts to reduce debt and focus on the US market.