National government and EPM officially closed the CaribeMar transaction
- Fecha de publicación
- 2020-09-30 00:00
- Contenido
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- Afinia, an EPM Group affiliate, will begin to provide electricity service on Thursday, October 1 in Bolívar, Cesar, Córdoba, Sucre, and certain municipalities of Magdalena
- Through its new affiliate, EPM Group will increase its share of the Colombian energy market to approximately 35%
- Over the next 10 years, investments of COP 8 trillion will be made to improve services and modernize the Company
Medellín, September 30, 2020 | After several months of hard work involving a review of the legal, financial, technical, administrative and regulatory aspects of CaribeMar, on Wednesday, September 30, the national government and EPM formalized the official closing of the transaction that enables a new affiliate of EPM Group, which will operate under the brand name Afinia, to become the electricity service provider for the markets of the departments of Bolívar, Cesar, Córdoba, Sucre and 13 municipalities of the department of Magdalena.
Having fulfilled the conditions established in the Contract to Acquire the Shares of CaribeMar de la Costa S.A.S E.S.P., Afinia will being to provide electricity services on October 1 to 1.5 million clients, equivalent to 6 million users.
This important achievement for EPM Group, on its path of growth with sustainability, began in mid-2019, when EPM was found to qualify to participate in the auction for the shares of CaribeMar de la Costa.
As a result of the auction, EPM received the award on March 20, 2020. Subsequently, last March 30, the share acquisition contract was signed, the conditions of which were fulfilled last Wednesday, September 30, after several months of work by Electricaribe, the national government and EPM.
Through its new affiliate Afinia, EPM Group will increase its share of the Colombian electricity distribution and commercialization market to approximately 35% (Afinia represents close to 12%), and will extend its quality services to a population of 19 million people in seven countries: Colombia, Chile, El Salvador, Guatemala, Mexico and Panama.
EPM Group aims to continue to growth with sustainability and to enhance the quality of life of the people of the Caribbean region through Afinia, which will invest COP 4 trillion in its first five years of operation. In total, it will invest COP 8 trillion over the next 10 years, which will translate into more development and job opportunities for the community, because with Afinia, good energy will grow.
About EPM Group
EPM Group is a multi-latin group with presence in six countries: Colombia, Chile, El Salvador, Guatemala, Mexico and Panama. The organization, which serves over 20 million people, not yet counting Afinia’s clients (1.5 million clients, 6 million users), provides water and wastewater management; electricity generation, distribution and transmission; natural gas and solid waste management services. In the first half of 2020, despite the impact of the global coronavirus (COVID-19) pandemic, it reported revenues of COP 9.3 trillion.