The stakes involved are 94.74% of Iberoamericana de Energia (Ibener) and 55% of Empresa Electrica Lican, which are valued at a total of $297.55M for a capital gain of $118M. Ibener owns two hydro power stations in Chile – the 75MW Peuchen and 49MW Mampil projects – while Electrica Lican owns a 17MW project that is currently under construction.

Iberdrola’s Strategic Plan projects US$3.5B in divestments this year, with the goal of maintaining its balance sheet strength, improving its capital structure and fulfilling the investment plans communicated to the market.

The CGE Group, with more than 100 years experience in the Chilean electricity sector, currently controls an installed capacity of more than 300MW. The company will make the new purchase through its CGE Generacion subsidiary.