June 13, 2008

AEI Acquires Tipitapa Power Company

Power generation and distribution firm AEI has acquired Nicaragua-based Tipitapa Power Company. Terms of the transaction have not been disclosed.

Tipitapa provides 50.9MW of generation capacity and associated energy through a long-term power purchase agreement (PPA) with the Nicaraguan distribution companies Distribuidora de Electricidad del Norte and Distribuidora de Electricidad del Sur, both majority-owned by Spanish utility Union Fenosa.

Cesar Zamora, country manager of AEI Nicaragua, said: "The acquisition of Tipitapa represents AEI's second investment in Nicaragua, demonstrating AEI's continued commitment to the country which expands AEI's ability to provide even more energy for Nicaragua's continuing development."