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AES Gener CEO steps down after 12 years

Bnamericas Published: Friday, June 24, 2016
AES Gener CEO steps down after 12 years

Luis Felipe Cerón will step down as CEO of Chile-based power generator AES Gener after 12 years, the company announced.

Vice president of operations Vicente Javier Giorgio will take over from Cerón, who will now serve as executive president, Gener said in a regulatory filing.

The shakeup is part of a restructuring under which parent company AES Corporation will shift toward renewable energy and water desalination, AES Corporation CEO Andrés Gluski said.

[GRAFICO:FIGURA:ID_1059]

Flagship renewable projects under development by Gener in Chile include the 517MW Alto Maipo run-of-the-river hydropower plant and the 220MW Los Andes solar plant which is planned to be built in six stages over 14 years.

Gener is also building a desalination plant at the Angamos coal-fired power station in Chile's northern Antofagasta region (II).

The Gener announcement follows the US$464mn sale by AES Corporation of Brazilian power distribution subsidiary AES Sul to CPFL Energia.

With a market capitalization of US$3.9bn and 5,222MW of installed capacity across Chile, Argentina and Colombia, Gener is Chile's largest power generator, according to a May presentation.

Energy sources for Gener's plants in operation comprise coal (48%), hydropower (24%), natural gas (20%) and diesel (7%).

TRANSMISSION TENDER

Gener, subsidiary Angamos, fellow generator Engie Energía Chile, and gold and copper miner Centinela launched a tender for five electric power transmission projects.

The firms are seeking firms to carry out work on transmission lines and substations. More details can be found here in Spanish.

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