BGE's alternative-energy subsidiary to help develop Latin American plants

April 20, 1996|By FROM STAFF REPORTS

Baltimore Gas and Electric Co.'s alternative-energy subsidiary yesterday announced the formation of a joint venture with a Massachusetts company that will invest $6 million to develop hydroelectric and other power plants in Latin America.

Constellation Power Inc.'s partnering with Energia Global Inc. on the Costa Rican plants marks the second investment by the BGE subsidiary in the southern hemisphere. Last July, Constellation led a consortium in buying a controlling interest in the Valle Hermosa Co., a Bolivian energy company, for $34 million.

Energia Global expects its first Costa Rican hydroelectric plant to be operational by year's end.

Constellation is a 10-year-old BGE subsidiary that operates 25 gas, coal, geothermal, hydroelectric, solar and biomass power plants.

Pub Date: 4/20/96

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