Suez Unit Scoops up Peru Hydro Project

Enersur, the Peruvian unit of GDF Suez, says it plans to acquire 100% of Quitaracsa, the company that owns the concession to develop the country’s Ancash hydroelectric project. Enersur does not disclose the price it will pay for Quitaracsa but the holdco’s previous owners, S&Z Consultores, estimate developing the project would cost $132m. A local energy sector analyst who asked not to be named notes Quitarasca does not have any income, since it only owns the concession for the unbuilt project, which is expected to eventually generate 115MW. Enersur is acquiring the project from Minera Atacocha, which holds a 92% stake, and from S&Z, which owns the remaining 8%. An Enersur spokeswoman declines to discuss the acquisition.