Codensa S.A. ESP (Codensa)

Description:

Colombia's Codensa S.A. ESP is involved in electric power distribution and trading. It is owned by Italian group Enel through Chilean holding Enersis S.A. (21.7%) and has a portfolio of 3.2 million customers. Its operations span 116 municipalities of the Cundinamarca, Boyacá, Meta and Tolima departments. Shareholders are Colombian Empresa de Energía de Bogotá S.A. E.S.P. (51.5%) and Chilean firms Enersis S.A. (39.1%) and Chilectra S.A. (9.35%). In 2015 the company started operations at El Quimbo plant featuring 400MW installed capacity and 2,2216GWh/y average generation. The plant's output will account for 5% of the country's aggregate generation. Other significant projects include expansion of the Bacatá substation, located in Tenjo municipality, with 500kV/115kV; Nueva Esperanza substation with 500kV/115kV and currently building the power substation; Norte substation with 230kv/115kv, currently in licensing process; and Quinta Pérez substation, with 34,5/11.4kV, which started operations in December 2015. In 2016, Codensa was merged by absorption with Distribuidora Eléctrica de Cundinamarca S.A. ESP (DECSA), one of Codensa and EEB's investment vehicles, and Empresa de Energía de Cundinamarca S.A. ESP (EEC), subsidiary of DECSA, which added 280,000 users to the company's client base. Codensa was created in 1997 after a capitalization process at Empresa de Energía q Bogotá and is headquartered in Bogota.