Empresa de Energia del Pacifico SA

Active

Prospective

Empresa de Energia del Pacifico SA (EPSA) is a vertically integrated utility that serves all the Departamento del Valle del Cauca except Cali. It provides hydroelectric generation and distribution services to 250,000 customers in the western departments of Cauca, and Cauca Valley. The company holds 3.7% of Colombia's distribution market and has an installed generating capacity of 820-MW. EPSA's generating assets includes the 345-MW Alto Anchicaya hydroelectric system, the 270-MW Salvajina plant, the 120-MW Calima unit, and 72-MW Bajo Anchicaya. EPSA has a contract to purchase most of the output of the 240-MW Termovalle gas-fired plant near to Cali being developed by KMR Power Corporation. The company was partially privatized in May 1997 when the Colombian goverment sold 57% of its equity for $535 million to Houston Light and Power and Electricidad de Caracas. In 2000, Union Fenosa acquired Epsa from Reliant Energy and CEdC. In December 2009, Spain's Gas Natural completed the sale of its two-thirds stake in Empresa de Energia del Pacifico SA (EPSA), Colombia's fifth largest electricity producer, to a group of local investors through a public offer on the Colombian Stock Exchange. Spain's Gas Natural had acquired Epsa earlier in 2009 via a takeover bid from Union Fenosa. The transaction was valued at approximately US $1.1 billion, and allowed the company to deconsolidate EPSA's debts, which totaled around $260 million as of December 2008. Colombian investment firm Colinversiones' wholly owned subsidiary Colener had paid Colombian peso 1,503 billion (US $745 million) for 164.064 million shares to take a 47.3% stake in EPSA. The rest of Gas Natural's stake in EPSA went to local investors Argos and Bancolombia. http://www.epsa.com.co/

Energy

Colombia

High

World Bank Group

Project

Natural Gas, Power Transmission, Power Generation (CCGT), Hydro, Government