AGL 38.31 Increased By ▲ 0.09 (0.24%)
AIRLINK 128.92 Decreased By ▼ -0.05 (-0.04%)
BOP 8.72 Increased By ▲ 0.87 (11.08%)
CNERGY 4.75 Increased By ▲ 0.09 (1.93%)
DCL 8.55 Increased By ▲ 0.23 (2.76%)
DFML 38.62 Decreased By ▼ -0.32 (-0.82%)
DGKC 85.01 Increased By ▲ 3.07 (3.75%)
FCCL 34.85 Increased By ▲ 1.43 (4.28%)
FFBL 77.62 Increased By ▲ 1.91 (2.52%)
FFL 12.89 Increased By ▲ 0.07 (0.55%)
HUBC 110.60 Increased By ▲ 0.24 (0.22%)
HUMNL 14.60 Increased By ▲ 0.59 (4.21%)
KEL 5.43 Increased By ▲ 0.28 (5.44%)
KOSM 7.92 Increased By ▲ 0.25 (3.26%)
MLCF 41.32 Increased By ▲ 1.52 (3.82%)
NBP 71.39 Decreased By ▼ -0.93 (-1.29%)
OGDC 191.50 Increased By ▲ 3.21 (1.7%)
PAEL 26.24 Increased By ▲ 0.61 (2.38%)
PIBTL 7.47 Increased By ▲ 0.10 (1.36%)
PPL 157.19 Increased By ▲ 4.52 (2.96%)
PRL 25.83 Increased By ▲ 0.44 (1.73%)
PTC 18.89 Increased By ▲ 1.19 (6.72%)
SEARL 83.20 Increased By ▲ 0.78 (0.95%)
TELE 7.85 Increased By ▲ 0.26 (3.43%)
TOMCL 32.93 Increased By ▲ 0.36 (1.11%)
TPLP 8.42 No Change ▼ 0.00 (0%)
TREET 17.14 Increased By ▲ 0.36 (2.15%)
TRG 56.20 Increased By ▲ 0.16 (0.29%)
UNITY 29.12 Increased By ▲ 0.34 (1.18%)
WTL 1.39 Increased By ▲ 0.04 (2.96%)
BR100 10,799 Increased By 140.8 (1.32%)
BR30 31,934 Increased By 602.7 (1.92%)
KSE100 100,253 Increased By 984.2 (0.99%)
KSE30 31,286 Increased By 253.9 (0.82%)

The board of Enel Chile SA said on Friday that a plan it privately presented to Enel in July to absorb Enel Green Power Latin America's non-conventional renewable generation assets in Chile has been conditionally approved by the parent company. In a letter to Chilean regulators, Enel Chile said the plan is dependent on it successfully upping its stake in Enel Generacion Chile SA to 75 percent from its current 60 percent stake via a partial takeover bid. That takeover bid will in turn require a capital increase, the company said, but it did not specify the cost.
"In this way, all of the generation operations that (Enel) has in Chile, be they conventional or non-conventional renewable, would be run by Enel Chile through its subsidiaries," Enel Chile said in a statement. Non-conventional renewable energy generally refers to all renewable energy sources except hydroelectric. In Chile, Enel Green Power has 475 megawatts of wind power, 493 megawatts of solar and is currently building a 48-megawatt geothermal plant, the first ever in South America, according to the company website.
Italy-based Enel's approval of the deal included a number of conditions in addition to the partial takeover of the Generacion unit. For instance, Enel will need to maintain a shareholder stake in Enel Chile that is similar to current levels, the company said.

Comments

Comments are closed.