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Israel Corp unit buys 2nd Chilean power station for $30 million

IC Power has acquired a 60-megawatt power station for $30 million.

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Israel Corporation (TASE: ILCO) subsidiary IC Power Ltd. has acquired a 60-megawatt power station in Chile for $30 million. This is the company’s second power station in the country.

In 2011, IC Power decided to extend its Chilean operations, as part of its expansion plan. Later that year, it acquired a 150-megawatt power station, which serves as a back-up power station in the country. It also set up a staff in the country.

In 2013, IC Power acquired two sites, totaling 500 acres, west of the capital Santiago, zoned for the construction of a 400-megawatt natural gas-driven power station.
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