SPAIN'S NATURAL GAS INVESTS US$130 MILLION.(Gas Natural SDG acquires stake in Puerto Rico's Ecoelectrica project from Enron Corp.)(Brief Article)

0 Comments | Caribbean Update, August, 2003

Spanish energy company Gas Natural SDG said Monday that it signed an agreement with Enron to acquire the bankrupt U.S. energy giant's stake in the Ecoelectrica project in Puerto Rico for $130 million, reports EFE News Agency (June 23, 2003):

Enron and U.S.-based Edison Mission Energy each hold a 50 percent stake in the project, which includes a 540-megawatt combined-cycle power plant and a 115,000-cubic-meter regasification plant, both located in the southern Puerto Rican city of Pe[uelas. The Ecoelectrica plants began operating in 2000;

The project will allow Gas Natural to enter the island's gas and electricity market "in a very favorable position," and represents a step forward in the company's global expansion plan. The agreement also includes a...