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Endesa, S.A. (Empresa Nacional de Electricidad, S.A.) is the largest electric utility company in Chile. It was created as a subsidiary of the state-owned CORFO on 1 December 1943 and was privatized in 1989. As of April 2009, it is 60% owned by Enersis, which in turn is 61% owned by Endesa International SA, a wholly-owned subsidiary of the Spanish Endesa Group. While Endesa Chile focuses on energy production, its sister firm Chilectra (99% owned by Enersis) markets the product. Endesa Chile owns a 49% stake in the controversial HidroAysén project in Aisén Region, which would build 5 hydropower dams on two of Chile's largest wild rivers, the Baker and the Pascua.
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