Grupo Red Eléctrica and Grupo Energía Bogotá acquire the Argo Energía company

Grupo Red Eléctrica, through its international subsidiary, and Grupo Energía Bogotá, have reached an agreement to jointly acquire, in equal shares, 100% of the common shares of the Brazilian company Argo Energía (Argo Energia Empreendimentos e Participações), dedicated to the management of high voltage transport networks, and with a workforce of more than 100 employees. Until now, Argo Energía was owned by funds managed by Patria Investments and Temasek. 

With the acquisition of 50% of this company, Red Eléctrica Group begins its activity in Brazil and co-manages three electrical concessions for a period of 30 years, totaling 1,460 km of high voltage circuits (500 kV and 230 kV) and 11 substations with 80% of these assets already in operation since last October.