EPM Buys Guatemalan Utility Company for $ 635 million

Colombian Group EPM acquired 80% stake in Empresa Electrica de Guatemala (EEGSA).

Friday, October 22, 2010

Empresas Publicas de Medellin (EPM), leading provider of public services in Colombia, will expand its presence in Central America.

Sigloxxi.com reports, "The sale, according to EEGSA´s manager, Jorge Alonso, was decided by company shareholders, consisting of firms Iberdrola of Spain, Teco Energy and Electricity of Portugal, although the distributor was unaware of negotiation details.”

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Colombian Investments in Central America

January 2011

EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.

The Corporate Group EPM (Empresas Públicas de Medellín) is dedicated to providing public services related to electricity, water, sanitation and telecommunications, through 12 subsidiaries. It is owned by the Municipality of Medellín, governed by Colombian commercial law.

TECO Energy Sues Guatemala

November 2010

The U.S. Corporation, a former shareholder of Empresa Eléctrica de Guatemala (EEGSA), sued the country before the ICSID in Washington.

The process is similar in its content to the one initiated by Spanish company Iberdrola (also a former shareholder of EEGSA) in December 2009, before the same institution, the International Center for Settlement of Investment Disputes (ICSID).

Empresa Electrica de Guatemala Being Sold

October 2010

According to reports, the Spanish utility Iberdrola is in discussions to sell its shares in Empresa Electrica de Guatemala SA (EEGSA) to Colombian company Eléctrica de Medellín (EDM).

Iberdrola's decision would be related to the reduction of tariffs in over 50% approved by the National Energy Commission (CNEE) in June of 2008.

State of Guatemala vs Teco Energy Litigation

August 2012

A recent ruling by an international tribunal in a dispute between Guatemala and Iberdrola, sets a precedent against the claims of Teco Energy.

The U.S. Corporation Teco Energy, a former shareholder of Empresa Eléctrica de Guatemala (EEGSA), sued Guatemala before the International Centre for Settlement of Investment Disputes (ICSID), in 2010, claiming economic losses caused by a reduction in the Value Added Distribution implemented by the National Energy Commission in 2008.

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AES Panamá

AES Panama is the largest electricity generation company in Panama, in terms of installed capacity as well as delivered energy. AES Panama is a subsidiary of AES Corporation, with headquarters in Arlington, Virgina, United States, and holds the 49% of shares in the operations of this generating company. Since late 2007, AES Panama owns four hydroelectric plants with an installed capacity of 482 Megawatts: Bayano (260 MW), Estí (120 MW), La Estrella (47.2 MW), and Los Valles (54.8 MW). Our main clients are the three energy distribution companies in Panama: Elektra Noreste, S.A., Empresa de Distribución Eléctrica Metro-Oeste, S.A., and Empresa de Distribución Eléctrica Chiriquí, S.A., which represent the 95% of the company’s energy sales. The remaining 5% corresponds to energy sales to Great Costumers, which are businesses with monthly energy consumption greater than 100 kilowatts.
Operates in Panama
Phone: (507) 206-2652

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