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TotalFinaElf finalizes acquisition of Argentina’s Hidroneuquen

27 Sep 2001 - TotalFinaElf has finalized the acquisition of a 70% interest in Hidroneuquen, pursuant to agreements signed with AES Corporation on November 28, 2000 and Argentina’s Gener on March 2, 2001.
 
Hidroneuquen owns a 59% interest in the 1400 MW Piedra del Aguila power plant in Neuquen province.
 
The acquisition has been approved by the relevant competition, regulatory and other authorities.
 
In July of this year, TotalFinaElf acquired Central Puerto, which operates four power plants with a combined capacity of approximately 2165 MW.
 
In strengthening its position across the gas and electricity chain, these transactions allow TotalFinaElf to meet energy demand in Southern Cone markets, where the Group also holds significant gas reserves.