El Águila Energy II to acquire AES Andes’s stake in Guacolda

May 15, 2021

• The 764 MW plant in Chile, represents 26% of AES Andes’s operational coal-fired capacity. 

 
Santiago May 14, 2021. – El Águila Energy II SpA, current co-owner of Guacolda Energía SpA, exercised its preferred acquisition rights over AES Andes’s stake in the 764 MW coal-fired complex in Huasco, Chile.

With this operation, AES Andes continues accelerating the execution of its Greentegra transformational strategy, by divesting its 50% stake in Guacolda, which represents 26% of the Company's operational coal-fired capacity. 

Concurrently, the Chilean financial group Capital Advisors, acquired from WegE SpA the control of El Águila Energy II SpA. Once the operation is completed - which is expected to take place during the second quarter of 2021, subject to the approval of the Fiscalía Nacional Económica (FNE) - Capital Advisors through El Águila Energy II SpA will control 100% of Guacolda. AES Andes will receive US $ 34 million from the sale of its stake, resources that will be used to finance the company's renewable growth plans.

In the executed purchase and sale agreement, El Águila Energy II SpA acknowledged that AES Andes adhered to the national decarbonization program, therefore El Águila Energy II SpA expressed its intention to remain part of the program, for the voluntary closure of coal units by 2040.