Astaldi has agreed to sell its 27.3% stake in the 110MW Chacayes hydroelectric plant in Chile to the project’s majority owner Pacific Hydro Chile (72.7%) and the Chilean subsidiary of Chinese group SPIC Overseas.
The Chacayes project was built by Astaldi in the Upper Cachapoal Region of Chile. The company’s stake in the project’s concessionary company was valued at approximately US$44 million.
The sale is expected to close by 31 March, following all necessary approvals.
