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Purchasing interests in Argentina

A unit of US-based Southern Company has agreed to sell its 59% interest in Hidroelectrica Alicura to AES Corporation of the US for US$205M. Alicura owns the concession to operate a 1000MW peaking hydro power plant located in the province of Neuquen, Argentina.

AES is also purchasing Southern Company’s 100% stake in Operadora de Argentina SA, which provides operation and maintenance services for the hydro facility in Neuquen, under a long term contract.

Meanwhile, Duke Energy International, a subsidiary of US-based Duke Energy, has purchased stakes in Hidro- electrica Cerros Colorados and Central Termica Alto Valle, in Argentina. Duke bought stakes in the two hydro plants from the US company Dominion Resources.