Compania Electrica de Salta SA

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Compania Electrica de Salta resulted from the merger of two formerly state-owned companies, Empresa Distribuidora de Electricidad de Salta SA (EDESA SA) and Empresa de Sistema Electricos Dispersos SA (ESED SA). Edesa and Esedsa served about 200,000 customers and had a generating capacity of 471-MW in 1996. Both companies were partially privatized together in May 1996 when the provincial government of Salta sold a 60% stake of their equities for $45 million to International Electric Holding, Union Fenosa, and Accion Exterior. By 2001, Edesa was owned by GPU International under the holding company Emdersa. In 2001 GPU International merged with First Energy and therefore control over Emdersa (parent company of Edesa) moved to First Energy. In April 2003, in response to the peso devaluation, First Energy spun off Emdersa –the holding company of electricity distributors Edesal, Edelar and Edesa. In September 2005, Emdersa was acquired by a group of local (40%) and U.S. investors (60% Nextar fund). In 2009, Ashmore Energy International [USA] increased its shareholding to 77.10% of Emdersa, the parent company of Empresa Distribuidora de San Luis SA, or EDESAL (project #749), Empresa Distribuidora de La Rioja SA, or EDELAR (project #506), and Empresa Distribuidora de Salta SA, or EDESA (project #96) for approximately US $82 million. In March 2011, AEI sold its shares in holding company EMDERSA to Pampa Energia SA [Argentina] through Pampa's subsidiary Edenor.