In addition to Chilquinta Energía, the firm is also planning to sell its 100% stake in Tecnored and 100% ownership of Eletrans
US-based energy infrastructure company, Sempra Energy and State Grid International Development Limited (SGID) announced that they are committed to completing the sale of Sempra Energy’s stakes in its Chilean businesses.
Both the firms are targeting to complete the sale, include Sempra’s 100% stake in Chilquinta Energía, which is the third-largest distributor of electricity in Chile, by 24 June.
Chilquinta Energía supplies electricity to approximately 2 million people in the regions of Valparaíso and Maule in central Chile.
Sempra Energy is also planning to sell its 100% stake in Tecnored and 100% ownership of Eletrans along with Chilquinta Energía.
Tecnored provides electric construction and infrastructure services to Chilquinta Energía and other third parties, while Eletrans owns, constructs, operates and maintains power transmission facilities.
Sempra Energy executive vice president and group president Dennis V. Arriola said: “As we move to close the transaction, our primary focus continues to be on the safety and well-being of our employees, customers and communities.
“We have received all the necessary approvals for the sale of our Chilean investments from the required governmental agencies in Chile and we plan to proceed with the closing with a target date of June 24.”
Chilean transactions to conclude Sempra Energy’s planned sale of its South American businesses
The firm said that the sale of Chilean businesses is subject to many conditions to closing that include confirmation on the last remaining filing in China with the National Development and Reform Commission (NDRC).
Additionally, Sempra Energy’s planned sale of its South American businesses is expected to be concluded with the completion of the Chilean transactions.
SGID chairman Hu Yuhai said: “Our planned investment in Chile is very strategic to the overall long-term growth of SGID and we are fully supportive of the Chilean government’s efforts to protect its citizens from the spread of COVID-19.
“Our Board of Directors remains fully committed to completing this transaction with Sempra Energy. We expect confirmation on the last remaining filing in China with the National Development and Reform Commission (NDRC) very soon.”