Antioquia asks EPM to buy Ituango

Antioquia asks EPM to buy Ituango

M&A Economy & Policy Energy Renewable Electricity Project & Infrastructure Finance Colombia

Antioquia Governor Luis Pérez has asked Empresas Públicas de Medellín (EPM) to acquire the department's 53% stake in the Ituango hydropower project.The deal would allow EPM to avoid paying COP2.8 trillion ($839 million) in fines for delays to the project, Pérez said in a letter to Federico Gutiérrez, the mayor of Medellín and chairman of the board at EPM.In exchange, EPM can grant the departmental government full or partial stakes in hydroelectric dams that are in operation, Pérez said. EPM had

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