CMS Energy Announces Close Of Sale Of South American Pipeline And Power Plant To Endesa
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.
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