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