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Sempra Energy completes sale of Chilean business to State Grid [free access]

June 24, 2020

San Diego-based Sempra Energy and State Grid International Development Limited (SGID), a wholly-owned subsidiary of State Grid Corporation of China (SGCC), has officially completed the sale process of Sempra’s energy business in Chile, to the latter, on June 24.

 

The sale includes Sempra Energy's 100 per cent stake in Chilquinta Energía S.A (third-largest distributor of electricity in Chile), 100 per cent stake in Tecnored S.A. (electric construction and infrastructure services provider to Chilquinta Energía and third parties), and 100 per cent interest in Eletrans S.A. (which owns, constructs, operates and maintains power transmission facilities in Chile).

 

Sempra Energy's interests have been sold for USD2.23 billion in cash, subject to post-closing adjustments. The move is a part of Sempra Energy’s strategy to focus on its North American business (US and Mexico).