REN acquires electricity transmission company in Chile for US$71.4 million

Portugal’s private national grid company REN – Redes Energéticas Nacionais, has acquired the Chilean electricity transmission company Transmisora de Energía Nacimiento (TENSA) for US$71.4 million.

REN is the sole shareholder in Transemel, a subsidiary of REN in Chile that operates in the electricity transmission segment, and through this acquisition now operates around 280 km of transmission lines in the country, as well as five substations,” states the company in a communiqué.

“The transaction is part of REN’s strategic plan for organic growth in Chile and the acquisition of operational assets that fit the company’s risk and return profile aligned with REN’s prudent investment principles and within its area of technical competence”, states the company.

The acquisition agreement for TENSA was achieved with CMPC, one of the largest industrial groups in the forestry and paper paste production sector in Latin America.

“TENSA is a Chilean company that has and operates around 190km of electricity transmission lines, mostly located in the centre and south of Chile”, says the company.