Profile: Enersis SA (ENI.N)
17 May 2013
Enersis S.A. (Enersis), incorporated on January 28, 1983, through its subsidiaries are engaged in the generation, transmission and distribution of electricity in Chile, Argentina, Brazil, Colombia and Peru. As of June 11, 2010, the Company owned 60% of Empresa Nacional de Electricidad S.A. (Endsea Chile) and 99.1% of Chilectra S.A. As of June 11, 2010, ENDESA S.A. (Endesa Spain), a Spanish electricity generation and distribution company, owns 60.6% of Enersis. Enel S.p.A. (Enel), an Italian generation and distribution company, owns through a wholly owned subsidiary 92.1% of Endesa Spain. On October 2009, the Company acquired an additional 24% of the share capital of Empresa de Distribucion Electrica de Lima Norte S.A.A. (Edelnor), increasing the direct and indirect ownership stake from 33.5% to 57.5%. In December 2010, the Company sold its entire stake in Compania Americana de Multiservicios to Grana y Montero SAA.
The electricity generation business is conducted primarily through Endesa Chile, which has operating subsidiaries in Chile, Argentina, Colombia and Peru. On September 12, 2009, the Company through its Endesa Eco completed the commissioning of 40 wind generators of the wind farm Canela II. In Argentina, Endesa Chile, through its subsidiaries Endesa Costanera S.A. and Hidroelectrica El Chocon S.A., carried out investments in the Fondo Para Inversiones Necesarias Que Permitan Incrementar La Oferta De Energia Electrica En El Mercado Electrico Mayorista (Foninvemem), which translated into a 21% shareholding in Termoelectrica Jose de San Martin S.A. (San Martin) and Termoelectrica Manuel Belgrano S.A. (Manuel Belgrano), corresponding to two 800 megawatt combined-cycle plants. In October 2009, Endsea Chile purchased a 29.4% stake of Edgel.
The Company’s distribution business in Chile, Argentina, Brazil, Colombia and Peru is carried out by its subsidiaries. During the year ended December 31, 2009, the Company in Argentina continued with its electricity infrastructure works including the increase in capacity of Perito Moreno substation, a mobile substation in Bosques substation, and the renovation and/or installation of many kilometers of electricity networks and medium and low-tension transformers. During 2009, the Company’s investment in Brazil was concentrated on projects for reducing losses and improving the distribution network. In 2009, the Company, through Codensa S.A. E.S.P. (Codensa), investments were directed to expansion projects for servicing new customers and growth in demand, and for incorporating equipment and renovating distribution networks in order to continue improving the continuity and quality of energy supplies. In 2009, the Company in Peru carried out an investment program focused mainly on the expansion and reinforcement of low and medium-tension networks, plus the expansion of capacity in medium and low-tension feeders and the increase in capacity of the transforming substations.
15TH FLOOR, Santa Rosa 76, Casil