Duke Energy International has acquired CGE Group’s Iberoamericana de Energia Ibener SA subsidiary in Chile for $415 million.

The purchase includes two hydroelectric power plants in Chile. Duke is a subsidiary of Duke Energy Corp. (NYSE: DUK), which serves about 7.1 million customers in the U.S. Duke Energy International owns and operations energy plants in Latin America. The company bought a diesel generating facility in Chile in July.

Duke expects to finance about half of the purchase price.

Citigroup and Banchile Citi acted as Duke Energy’s advisers. 

For more on Energy M&A, see “Fracking Fuels Energy Deals” and “Special Report: Energy M&A on Fire in December.” 

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