December 22, 2017 / 2:16 AM / in 6 months

Chile's AES Gener sells four plants for $300 million

SANTIAGO (Reuters) - Chilean electricity generator AES Gener SA said on Thursday it would sell four of its plants for $300 million to Generadora Metropolitana, a company owned by affiliates of Andes Mining & Energy Corporate SA and EDF Energy Plc.

AES Gener said the sale would boost earnings by $65 million and that the funds would go toward strengthening the company’s capital structure. The Renca, Nueva Renca, Los Vientos and Santa Lidia plants have a combined generating capacity of 750 megawatts.

The announcement comes as the company struggles with construction and financing issues at its Alto Maipo hydroelectric project near Santiago.

Reporting by Felipe Iturrieta; Writing by Luc Cohen; Editing by Lisa Shumaker

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