A major step in developing energy services in Latin America : ENGIE acquires IMA in Chile
ENGIE, through its subsidiary Cofely, has completed the purchase of IMA Chile, a leading provider of industrial services (maintenance and solutions) to major customers in mining, energy generation and industry.
Thanks to this acquisition, ENGIE energy services in Chile will represent the Chilean leader in energy services with 65M€ of yearly revenues and 1,700 employees, serving more than 200 customers in all sectors (mining, energy generation, industry, retail, health, …).
Combined with its existing energy services operations in Chile (Cofely Térmika and Energía del Sur), this new acquisition will enable ENGIE to offer multi-technical services both in the commercial and the industrial sector, having now internal capabilities in all technical skills. It will contribute to accelerate its development in the industrial market, develop energy efficiency and decentralized energy proposals to the current customers of IMA. ENGIE will thus use this platform to enter in energy services in other Latam countries like Peru.
This acquisition is in line with the Group strategy to be leader in energy transition in Europe and to develop its European leading position in energy services on an international scale. The Group has recently reaffirmed its ambition to double its energy efficiency revenues outside Europe by 2020.
IMA has developed since 1982 two main lines of business for industrial customers:
- Maintenance services (80% of revenues) mainly in the fields of mechanical, electrical, instrumentation and automation, helping their customers to enhance reliability and availability of their plants
- Solutions (20% of revenues) mainly in the field of automation, electrical control and instrumentation, improving the management tools of their client’s industrial process
The company has generated revenues of 35M€ in 2014 with its team of 1,200 employees.
ENGIE in Chile
ENGIE is present in Chile through E-CL, the principal electricity generator on Chile’s Northern Electricity Grid (SING),. Following an energy auction in 2014, the Group will deliver 5,040 GWh per year to the distribution companies of the SIC (Chile’s central electricity system) from 2018 for a period of 15 years. ENGIE is thus developing the 375 MW IEM thermal power plant as well as a transmission line (TEN) that will connect the Mejillones and Copiapó cities. ENGIE also holds 63% in the Mejillones LNG terminal which became commercially operational in April 2010. In Chile’s Central Power Grid (“SIC”), the Group owns and operates the Monte Redondo wind farm and Laja 1 hydroelectric project, a “run-of-the-river” plant.. The Group has an installed capacity of 2,081 MW as at 31 December 2014.
Solgas (100% ENGIE) is a company dedicated to purchasing, selling and distributing gas to industrial and corporate clients.
ENGIE is also present in energy services through its subsidiaries Cofely and Tractebel Engineering.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (GSZ) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).