BOGOTA, Aug 13 (Reuters) - Colombian electricity company Celsia ES will buy stakes in power-generating facilities in Panama and Costa Rica from France’s GDF Suez for $840 million, Celsia said in a filing with Colombia’s financial regulator on Wednesday, the first time the company has expanded abroad.
Celsia said it expects to conclude the purchase of GDF Suez’s stakes in the facilities in the two Central American countries by November or December. The company said the deal fits its strategy of regional expansion to enable interconnection of power supplies.
The acquisitions will add 30 percent, or 535 megawatts (MW), to Celsia’s power generation capacity, taking it to 2,312 MW. The utilities in which it is buying stakes include 367 MW of thermoelectric and 118 MW of hydroelectric generation. The deal also includes 50 MW of wind power capacity in Panama.
Celsia ES is controlled by Colombian investment holding Grupo Argos. It will hold a conference call with investors and analysts on Thursday at 7:30 a.m. Bogota time (1230 GMT) to discuss details of the purchase. (Reporting by Nelson Bocanegra; Writing by Peter Murphy; Editing by Peter Galloway)