22Feb2013

TSK buys from Gas Natural Fenosa two electric distribution companies in Nicaragua

 

TSK and the Andalusian Company Melfosur, with which TSK has partnered for several projects, recently finished off the purchase from Gas Natural Fenosa of more than 83% of the two biggest EDCs in Nicaragua. The State is a small shareholder of these companies, owning 16%. Disnorte and Dissur have more than one million customers in a country with 5.8 million inhabitants. The investment for this operation was 57.8 million dollars.
The partnership between TSK and Melfosur Internacional bought 83.69% of Distribuidora de Electricidad del Norte (Disnorte) and 83.73% of Distribuidora del Sur (Dissur). The operation was closed in the presence of Nicaragua’s Ministers of the Economy and the Energy and Mining, reinforcing even further the internationalization of both Spanish companies.
Joaquín García Rico, General Manager at TSK, explained to the media that “the ever increasing demand for power in the world stems from the increase of the consumption in developed countries and the new needs of the developing ones. TSK has a double bet on the power business: engineering + construction and concessions”. “For TSK”, he stated, “concessions are a strategic bet for the future that will provide us with stability as we grow”. The idea is to always operate in “concessions focused in electric power, where TSK has a good deal of experience, national and international, in the development and construction of infrastructures for the generation, transport and distribution of power, as well as in the exploitation of hydraulic, photovoltaic and thermal solar power plants”.
TSK buys from Gas Natural Fenosa two electric distribution companies in Nicaragua