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Dominion buys US$40M stake in Argentinian hydro facility

A subsidiary of US-based Dominion Energy has paid US$40M to raise its stake in the 450MW Cerros Colorados hydroelectric facility in Argentina’s Neuquen province. This has increased the company’s share from 58% to 98%.

The Dominion subsidiary, Patagonia Holding SA, bought the additional ownership from the Neuquen provincial government.

Utility employees are still the owners of the remaining 2% of the facility.