GDF SUEZ signs agreement to sell energy assets in Panama and Costa Rica

GDF SUEZ announces that it has signed an agreement for the sale of its assets located in Panama and Costa Rica to Celsia, a Colombian company.

Assets included in the transaction are the wholly owned 118 MW Dos Mares hydro complex, 83 MW Cativa fuel oil plant and 50 MW Guanacaste wind farm, together with the 249 MW Bahia Las Minas thermal complex (coal and fuel oil plants), in which GDF SUEZ has a 51% share.

The sale is the result of a direct negotiation initiated with Celsia. Given the value creation from the offer received, the transaction fits with GDF SUEZ’s strategy to recycle capital and enhance the value of its portfolio. This transaction will result in a reduction of around USD 1 billion of GDF SUEZ consolidated net debt. Completion is expected towards the end of 2014.

In line with GDF SUEZ’s ambition to be the benchmark energy player in fast growing markets, proceeds from this transaction will be redeployed to consolidate current strongholds and materialize new opportunities in fast growing countries.

Today, GDF SUEZ Energy Latin America is present in Argentina, Brazil, Costa Rica, Chile, Panama, Peru and Uruguay, supporting this fast growing continent in its economic development, respecting the environment and providing essential services to its people. The company manages and operates a diversified energy portfolio. Two thirds of the electricity it generates is renewable.