REN has become the sole shareholder of Transemel, a subsidiary in Chile operating within the electrical transmission sector. With this acquisition, Transemel now manages approximately 280 kilometers of transmission lines and five substations throughout the country, according to a company statement.
“This transaction aligns with REN’s strategic plan, which in addition to organic growth in Chile, involves selective acquisitions of operational assets that are appropriately sized and offer risk and return profiles consistent with REN’s prudent investment principles and technical expertise,” the statement emphasized.
The acquisition agreement for TENSA was finalized with CMPC, one of the largest industrial groups in the forestry and pulp and paper sectors in Latin America, REN disclosed.
“TENSA is a Chilean company that owns and operates around 190 kilometers of electrical transmission lines, primarily in central-southern Chile,” the statement explained.
“These assets were initially developed to serve CMPC Group’s industrial facilities. Most of them have since been reclassified as regulated assets as part of the ongoing tariff review process for the 2024-2027 period,” it read.
The company stated the deal “adheres to REN’s strict financial discipline, ensuring consistent profitability and maintaining credit metrics compatible with an investment-grade rating.”
REN also recalled its investment decision in Chile, made in 2017. It holds a 42.5% stake in Electrogas, which owns and operates a 166-kilometer gas pipeline between Valparaíso and Santiago, and is the sole shareholder of Transemel.
For related developments, visit:
