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.”
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.”
Read the full story here.