AES Andes stock faces new ownership as Chile clears AES sale

Chile's National Economic Prosecutor's Office approved the acquisition of AES Corporation by funds linked to BlackRock's Global Infrastructure Partners and EQT on October 1, with the resolution published on October 21, 2026. The Rio Times reported that the review found no substantial threat to competition and imposed no conditions on the transaction.

The deal covers AES Corporation, the US-listed parent of AES Andes, and was agreed at US$15 per AES share. AES shareholders approved the transaction on June 26. Closing is expected in late 2026 or early 2027, but additional regulatory approvals are still required, according to The Rio Times.

Chile Review Clears Power Deal

The FNE examined the buyers' existing interests in Chilean generation, renewable energy, battery storage and data centers. It concluded that the combined group would hold 10.2 percent of generation capacity across all sources and 10.7 percent of renewable capacity, levels the agency said would not allow rivals to be excluded from power supply, equipment or services.

Battery storage received particular scrutiny. The report said AES held 13.9 percent of grid-connected battery capacity when projects due online in 2026 were included, while Atlas held 7.6 percent. The FNE judged the market to be young and expanding despite a rise in its concentration measure.

AES Andes Keeps Chile Focus

AES Andes operates electricity-generation assets in Chile, Colombia and Argentina, with 5.5 gigawatts of operating capacity, according to its investor information. Its portfolio includes wind, solar, hydroelectric and battery projects, and the company says it is investing in renewable capacity across its markets.

In Chile, AES Andes operates alongside energy businesses including Atlas Energia, Chile Renovables and Zelestra, which are identified in the competition review as participants in solar, battery or power-generation activities. AES Andes remains the Chile-focused operating subsidiary within the broader AES group, while the proposed owners bring additional infrastructure holdings to the market.