Central Costanera SA

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Central Costanera (CCSA) was owned by Servicios Electricos del Gran Buenos Aires, an Argentinean state-owned utility. The facility had an installed capacity of 1260-MW in 1992. In a first transaction, a 60% equity stake was sold for $90.1 million to Endesa (30%), Enersis (9%), Chilectra Metropolitana SA (3%), Inversora Patagonica (7.5%), and Establishment of Grupo Rio (7.5%). The winning consortium also assumed US$150 million in debt. In a second transaction, the remaining 40% equity stake was sold to its workers and small investors. As of 2004, Endesa (Chile) owned a 64% stake in the company. After its privatization, the company invested $200 million to upgrade its plants work at maximum efficiency. In December 1996, the company announced an expansion of 832 MW, beginning commercial operations in 1998. In 2001, CCSA merged with its subsidiary Central Termoelectrica Buenos Aires (CBA) by purchasing a 51% stake in the company. As of 2004, the company had an installed capacity of 2,311 MW, equivalent to almost 11% of the generating capacity in the country. In December 1996, KLT Power, a subsidiary of Kansas City Power & Light, bought Perez Companc's stake in Central Costanera SA. In July 1998 El Paso Energy International bought 100% of KLT Power thus acquiring KLT's 12% Costanera stake. None