Duke Energy International Announces Sale of Bolivian Power Plant Assets February 5, 2007
CHARLOTTE, N.C. -
Duke Energy International has completed the sale of its 50 percent ownership interest in two hydroelectric power plants near Cochabamba, Bolivia, to Econergy International. The plants have a combined operating capacity of 147 megawatts.
The sale, which closed today, was for $20 million. Duke Energy will take a pretax impairment related to the sale of approximately $28 million. The pretax impairment from the sale of the assets was previously estimated to be approximately $50 million and was taken in the fourth quarter of 2006.
Duke Energy International will not have any assets in Bolivia following the sale.
About Duke Energy
Duke Energy Corp., one of the largest electric power companies in the United States, supplies and delivers energy to approximately 3.9 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Duke Energy's commercial power business has approximately 8,700 megawatts of unregulated generation, primarily in the Midwest, including efficient natural gas and coal-fired plants. Substantially all of the financial results for this business are driven by sales to retail customers in Ohio under the state’s rate stabilization plan.
Headquartered in Charlotte, N.C., Duke Energy Corp. is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: http://www.duke-energy.com/.
About Econergy International
Econergy International, which has offices in Boulder, Colo., and Washington, DC, Sao Paulo, Brazil and Monterey, Mexico, has under development 40 clean energy projects throughout Latin America that may also sell carbon credits under the Clean Development Mechanism. In addition to the carbon trades it brokers, it also takes equity stakes in projects that yield carbon credits. Typically these are clean energy investments in wind power, small scale hydro, bagasse cogeneration and other forms of clean energy. Bagasse is the biomass remaining after sugarcane stalks are crushed to extract their juice.
In February 2006, Econergy International PLC floated on the Alternative Investment Market of the London Stock Exchange. The company’s mnemonic is ECG.
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