LONDON (ShareCast) - (ShareCast News) - Rurelec has completed the sale of its Peruvian subsidy, Empresa de Generación Eléctrica Canchayllo (EGEC) to Energías Renovables de los Andres (ERA), in a deal worth $6.8m.
The power generation company will use the $6.4m net proceeds from the sale to pay off the bulk of $7.5m of assumed debt.

EGEC is 93% owned by Cascade Hydro, a wholly owned subisdiary of Rurelec. It owns a 5.26 megawattrunn of the Peruvian Junin province's river hydro power plant.

As of 0845 BST, Rurelec was trading 9.6% higher at 2p.

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