Empresa Electrica de Oriente (EEO)

active

Control of Empresa Electrica de Oriente (EEO) was sold to Reliant Energy and Electricidad de Caracas (EdC) of Venezuela, which bid $61-million for 89.11% of EEO. The financial closure was reached on Feb. 17, 1998. EEO is headquartered in San Miguel and its service territory, in eastern El Salvador covers the largest area but contains only about 158,000 customers as of January 2001. The EEO service area is much more rural than that of CAESS, the largest distributor in El Salvador. In June 1998, Houston Industries Energy (Reliant Energy) became EdC's 50/50 partner in EEO. 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 EEO. 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