AES sells stake in Chilean renewable energy business to GIP

AES sells stake in Chilean renewable energy business to GIP

Corporate & Sovereign Strategy M&A Electricity Energy Wind Andean Latin America South America Chile United States

AES Andes, the Chilean subsidiary of US power company AES, said late Thursday that it reached an agreement to sell 49% of its renewable energy unit, Chile Renovables, for $441 million to New York-based infrastructure fund manager Global Infrastructure Partners (GIP). AES Andes, formerly known as AES Gener, will keep a 51% stake in the business, it said in a press release. AES Andes CEO Ricardo Falú said the partnership will help the company to "continue accelerating our growth" and added that th

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