Enel has acquired an additional 17 % stake in Brazilian utility Eletropaulo for $ 500 m from US - based AES . Enel recently beat out Spain 's Iberdrola to acquire a 73 % stake in Eletropaulo , Brazil 's largest power distributor . Gener which is building the 531-MW Alto Maipo hydroelectric facilityroughly 30-miles south of Santiago, Chile. US - based AES said it would exit the Brazilian power distribution business , focus on expanding its Brazilian renewables business and would use the proceeds from the sale to pay down debt .
Enel has acquired an additional 17 % stake in Brazilian utility Eletropaulo for $ 500 m from US - based AES . Enel recently beat out Spain 's Iberdrola to acquire a 73 % stake in Eletropaulo , Brazil 's largest power distributor . US - based AES said it would exit the Brazilian power distribution business , focus on expanding its Brazilian renewables business and would use the proceeds from the sale to pay down debt .