November 23, 2018 / 9:44 PM / 20 days ago

Colombia to invest $219 mln in Gas Natural's Electricaribe

BOGOTA, Nov 23 (Reuters) - Colombia will invest 700 billion pesos ($219 million) in beleaguered energy company Electricaribe, President Ivan Duque said on Friday.

The government ordered the liquidation of the company - a subsidiary of Spain’s Gas Natural - in March 2017 because of service provision failures, after taking temporary control of Electricaribe’s assets.

“This week we were able to define a guarantee by the nation so we can have the 700 billion pesos that Electricaribe needs in investment for next year,” Duque said in the coastal city of Barranquilla.

Italy’s Enel was the only company to show interest in buying Electricaribe in a government sale, but later said it would only consider the possibility with a Colombian partner.

Electricaribe operates in seven provinces and has more than 2.6 million customers. ($1 = 3,196.26 Colombian pesos) (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Helen Murphy and Jonathan Oatis)

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