CMS Energy Announces Close of Sale of South American Pipeline and Power Plant to Endesa
Posted on: Wednesday, 1 August 2007, 18:05 CDT
JACKSON, Mich., Aug. 1 /PRNewswire-FirstCall/ -- CMS Energy announced today that several of its subsidiaries have closed on the sale of their interests in the GasAtacama natural gas pipeline and power plant in South America to Empresa Nacional De Electricidad S.A. (Endesa) for $80 million.
Proceeds from the sale will be used for general corporate purposes, to reduce parent debt, and invest in CMS Energy's Michigan utility, Consumers Energy.
GasAtacama transports natural gas to northern Chile from Argentina and owns and operates gas pipelines as well as a 780 megawatt combined-cycle, gas- fired power plant in northern Chile. CMS Energy and Endesa of Chile built the GasAtacama project and placed it in service in 1999. CMS Energy held a 50 percent interest in GasAtacama.
CMS Energy is a Michigan-based company that has as its primary business operations an electric and natural gas utility, natural gas pipeline systems, and independent power generation.
For more information on CMS Energy, please visit our web site at: http://www.cmsenergy.com/
CMS Energy
CONTACT: Media Contacts: Jeff Holyfield, +1-517-788-2394, or Dan Bishop,+1-517-788-2395, both of CMS Energy; Investment Analyst Contact: CMS EnergyInvestor Relations, +1-517-788-2590
Web site: http://www.cmsenergy.com/
Source: PRNewswire-FirstCall
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