EDF Sells Mexican Assets to Gas Natural
December 28, 2007
French energy major EDF has sold its industrial assets in Mexico to the Spanish utility Gas Natural. The disposal follows an agreement signed between the two companies.
The deal involves five gas combined cycle production units (Saltillo, Altamira 2, Rio Bravo 2, Rio Bravo 3, Rio Bravo 4) with a total capacity 2,233MW, along with their operating company Comego and a 53km long natural gas pipeline, Gasoducto del Rio. The total transaction value amounts to $1.45 billion.
The disposal has been approved by the board of EDF as well as by the competent French and Mexican authorities. It is part of the EDF Group’s development strategy to refocus on its activities in Europe and to participate to the revival of nuclear power worldwide.