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US: Duke to shed Latin America power assets in $2.4B deal

By  |  October 12, 2016

Duke announced back in February that volatility in Latin America was forcing it to rethink its portfolio. Now, the company has reached agreements to sell its natural gas and hydroelectric assets in Brazil, Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina.

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    “Our strategic transformation is gathering more momentum as we exit the Latin American market to focus on our domestic regulated core business, which was bolstered by our recent Piedmont Natural Gas acquisition,” Duke President and CEO Lynn Good said in a statement.

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    The deal with China Three Gorges includes 10 hydro plants in Brazil, according to SNL Energy, which Duke said represent 2,090 MW of capacity. The businesses sold to I Squared Capital include hydroelectric and gas generation plants, transmission infrastructure and natural gas processing facilities, totaling 2,300 MW.

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