logo
  Join        Login             Stock Quote

Duke Energy (DUK) Unit To Buy Hydroelectric Generating Assets In Chile

 December 26, 2012 12:19 PM
 


(By Balachander) Duke Energy Corp. (NYSE: DUK) announced the acquisition of additional hydroelectric generating assets in Chile for $415 million.

The Charlotte, North Carolina-based energy company said it is purchasing CGE Group's Iberoamericana de Energia Ibener S.A. subsidiary in Chile, including hydroelectric generating assets with 140 megawatts of installed capacity.

The company's Duke Energy International (DEI) unit acquired two run-of-river hydroelectric powerplants – Peuchen and Mampil with combined installed capacity of 140 megawatts.

The electricity generated from these stations feeds into the Central SIC grid at the Charrua 220 Kv transmission system, the company noted.

[Related -Why dividend-paying utilities stocks could lag again in 2014]

DEI has been operating in Chile since July 2012, when the unit acquired the Yungay plant, a 240 megawatt diesel generating facility.

"Chile is an attractive market to grow our business and these assets are an excellent addition to our existing South American hydroelectric power plants," commented DEI President Andrea Bertone. "We will continue to evaluate additional growth projects in Latin American countries, like Chile, where there is strong growth potential and a stable regulatory system."

Shares dropped 0.67 percent to trade at $64.15 on Wednesday. Over the past year, the stock has been trading between $59.63 and $71.13.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageAmerican Apparel Inc. (APP) and International Stem Cell Corp (ISCO): Trading Under $1 with Seven Figure I

Admittedly, it was difficult to pick one of the 30 that stood out compared to the other 29. So, instead of read on...

article imageCanadian Solar Inc. (CSIQ): Going to $40 Says FBR capital

On an otherwise red day, Canadian Solar Inc. (NASDAQ:CSIQ) is bobbing higher, up nearly 1% as we type. The read on...

article imageGoogle Inc. (GOOGL): 3T Analysis – Buy The Dip on the Way to the 52-Week High

With new market highs, hot IPOs such as GoPro Inc. ripping it up, and Apple Inc. back on top, Google Inc. read on...

article imageFamily Dollar Stores, Inc. (FDO) Q3 Earnings Preview: Too Many Things Pointing the Wrong Way

Family Dollar Stores, Inc. (NYSE:FDO) will release its financial results for the third quarter of fiscal read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.