PSEG Sheds Peru Hydro Generator

New Jersey utility Public Service Enterprise Group (PSEG) is selling its Electroandes hydroelectric generation company in Peru to Norway’s Statkraft Norfund Power Invest. SN Power will pay $284m and assume $106m of debt in the deal expected to close in October. Electroandes has four hydro facilities totaling 180MW and 437 miles of transmission lines. The sale is part of a PSEG plan to sell assets in the region while prices are high. Last week, it announced plans to sell interests in electricity distribution businesses in Chile and Peru.