Endesa Chile approves 6,300 MW of Latin America power projects

Jul 27, 2015 12:00 AM

Latin American power producer Endesa Chile has given the go-ahead to 36 projects in Brazil, Chile, Peru and Colombia, as part of its strategy to expand operations throughout the region, the company said Monday.

The plan will add a total capacity of 6,300 megawatts to Endesa's operations, with almost half of that being based in Chile.

Endesa Chile, which is controlled indirectly by Italian energy producer Enel, said that the majority of the new projects will be focused on natural gas and hydroelectricity. It did not give any indications on the likely value of the investments.

Endesa Chile on Monday reported a 9 percent drop in profits in the second quarter to $81 million, roughly in line with forecasts, while its holding parent Enersis posted earnings up 18 percent to $213 million.

Enel is shifting its focus away from Europe to its more lucrative Latin American operations, and is eyeing a restructure to streamline its regional holdings.

 

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