Xcel offloads Energía del Sur to provinces

US-based Xcel Energy (NYSE: XEL) has completed the sale of its sole remaining asset in Argentina, the 76MW Energía del Sur plant in Chubut province, for 5.2mn pesos (US$1.7mn) to the provincial governments of Chubut and Santa Cruz, newswire EFE reported. Energía del Sur supplies power to the city of Comodoro Rivadavia in the province of Chubut, 1,850km south of Buenos Aires. However, the plant will also supply power to towns in northern Santa Cruz after the sale, the paper reported. The purchase of Energía del Sur is aimed at solving "significant problems of energy collapse" in Santa Cruz, Chubut governor Mario Das Neves was quoted as saying. Xcel Energy offloaded its Ameghino hydroelectric plant in March, and sold its Corporación Independiente de Energía (Ciesa) holding company to local energy wholesaler Albanesi and New York-based Bell Investments in April for US$26mn. Xcel officials could not be reached on Monday to confirm the sale of Energía del Sur.