Claro & Cía assists AES Gener in sale of majority stake in coal power plant
Claro & Cía has advised AES Gener on the selling of majority stake in coal-fired power plant to WEG Group in Chile
Claro & Cía, Chilean law firm, has assisted AES Gener, a power generation company in the sale of a majority stake in a coal power station to industrial technology provider WEG Group.
The transaction was signed on February 23rd. It is subject to approval by Chilean antitrust regulator FNE. The buyer has used in-house counsel in which no value has been disclosed.
AES Gener expects to reinvest proceeds in renewable energy assets. The station is located in Huasco, in northern Chile and has a capacity of 764 megawatts.
The power generation company also sold 50% plus one share to Guacolda Energía, the company that operates the power plant. As a result of the transaction, WEG Group is now the owner of Guacolda.
The deal counted on a skilled team made up of María Paz Cerda, in-house counsel for AES Gener, and Partner Rodrigo Ochagavia (pictured left) and associate Marcelo Estay (pictured right) from Claro & Cía.
