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Bolivia nationalizes unit of Spanish firm Red Eléctrica de España

President Evo Morales announces move during Labor Day celebrationsANDREW SIM Madrid 1 MAY 2012 - 18:27 CET Bolivian President Evo Morales on Tuesday announced the nationalization of the Transportadora de Electricidad (REE) unit of Spanish electricity grid operator Red Eléctrica de España and ordered the military to guard the company’s installations.“Today, again, in merited homage of the workers and people of Bolivia who have fought to recover natural resources and basic services, we are nationalizing Transportadora de Electricidad,” Morales said in a Labor Day ceremony and the presidential palace in la Paz.Bolivia nationalized its energy sector in May 2006.The expropriation follows the seizure last month of Spanish oil firm Repsol’s YPF unit in Argentina by the government of President Cristina Fernández de Kirchner.SOURCE:
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