New York - Prime Colombia Barranquilla, S.A.S. and Prime Energía Colombia S.A.S., subsidiaries of EnfraGen, have entered into an agreement to purchase 100% of the shares in the company Zona Franca Celsia S,A. E.S.P. from Celsia S,A. E.S.P. The proposed $420 million acquisition includes the Flores I and Flores IV gas fired generation plants located in the city of Barranquilla, Colombia, as well as additional assets necessary for the plants’ operation and expansion. Flores I and Flores IV operate with an installed capacity of 610 MW and together are the second-largest thermal plant in Colombia.
Paul Hastings is advising Glenfarne Group and its subsidiary EnfraGen on the transaction. The Paul Hastings team was led by partners Robert Leung and Mike Huang, and included associate Guillermo Castellanos.
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