Enel Green Power and El Salvador formalize split over LaGeo

Ending a saga that started in 2007, El Salvador gained full control this week of LaGeo, “one of the largest geothermal companies in Central America. LaGeo was a joint venture between Enel Green Power and state-owned outfit Inversiones Energeticas S.A. de C.V.”

LaGeo

Source: http://www.enorca.com/

Buying Enel’s 36.2% stake for US$280mm, El Salvador can now move forward with other investments with these legals issues resolved.

According to the president of Grupo CEL, the state-owned utility, “US$500 million has already been earmarked for further development in other areas.”

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