Duke energy announces acquisition of power plants in guatemala

Duke Energy International (DEI), part of Duke Energy Global Markets, has acquired Grupo Generador de Guatemala y Cia., S.C.A. (Grupo Generador) from affiliates of Constellation Energy Group of Maryland.
Duke Energy will acquire two generating plants owned by Grupo Generador at Esquintla and Lake Amatitlan in Guatemala. The combined capacity of the plants is 167 megawatts. The addition of the two heavy fuel oil plants is part of Duke Energy's Central American strategy of building an integrated regional energy business to include fuel diversity and cross-border energy trading. Duke Energy plans to expand the existing operations by the construction of an additional 160 megawatts of thermal power generation. The expansion, slated to be operational in the final quarter of 2002, is expected to have the lowest cost structure in the region.
"Guatemala is a key component of our regional strategy," said Duke Energy Global Markets President and Chief Executive Officer Bruce Williamson. "With the proximity of these facilities to our operations in El Salvador, this a logical next step in our expansion in the region." 
Duke Energy initially acquired generating assets in Central America in 1999 as part of the privatization of government assets in El Salvador. The company has expanded the capacity of its generating plant at Acajutla, El Salvador, by nearly 50 percent to meet market demand. The expanded capacity at Acajutla, coupled with the assets acquired from Constellation Energy, will provide a solid platform for the continued growth of Duke Energy's regional trading and marketing operation.
Duke Energy International, a subsidiary of Duke Energy, is a leading owner, operator and developer of integrated energy projects in Asia Pacific and Latin America. DEI's diverse investment and asset portfolio spans the entire energy value chain from exploration, production, gathering, processing and transportation of natural gas to generation, electric transmission and energy trading and marketing.
Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses -- generating revenues of more than $49 billion in 2000. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com. 

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