ISA Powers Up

Colombia’s largest energy provider, state-controlled Interconexión Eléctrica SA (ISA), together with state-owned Empresa de Energía de Bogotá have increased their control of Peruvian electricity transmission company Consorcio TransMantaro. They bid $17.7 million Thursday, the sole bidder at the auction to buy the remaining 15% stake held by the Peruvian state. Peru’s investment agency ProInversión had earlier set a minimum price of $15.2 million. In May the Colombian firms bought 57% of the TransMantaro from Canada’s Hydro-Québec for $67 million. The Quebec Federation of Labour Solidarity Fund owns the remaining 28% stake.