Compania de Alumbrado Electrico de San Salvador (CAESS)

active

Control of Compania de Alumbrado Electrico de San Salvador (CAESS) was sold to El Salvador Energy Holdings, a 50/50 partnership between Electricidad de Caracas (EdC) of Venezuela and Reliant Energy, which bid US$ 236 million for 75% of CAESS. The financial closure was reached on Feb. 17, 1998. CAESS is headquartered in San Salvador and supplies north-central El Salvador, including the capital San Salvador, and is the largest of the three distribution systems (the other two are EEO and DEUSEM). In terms of customers and sales CAESS had about 437,000 customers as of January 2001. In 2000, AES Corp. acquired Reliant Energy's shares in El Salvador Energy Holdings, and, with its acquisition of Electricidad de Caracas also in 2000, AES currently owns the majority of the shares in CAESS. IFC/multilateral information for 2002 the three projects, Compania de Alumbrado Electrico de San Salvador (CAESS), Distribuidora Electrica de Usulutan (DEUSEM) and Empresa Electrica de Oriente (EEO) was reported in cumulative figures only. Please note there may be some overlap for these projects (ID#2036, 2390, 2086). See http://www1.ifc.org/ar2002/pdf/FY2002Commitments.pdf. None