Electricity provider Enersis Chile has reduced its investments plan to $1.6b over the next four years, local newspaper Diario Financiero reported, according to Reuters.  “We are going to invest an average of $400m per year over the next four years,” Chief Financial Officer, Raffaele Grandi, said.

Enersis Chile is the result of a reorganization of Italian energy producer Enel’s Latin American assets, which has included the division and fusion of companies controlled by the Italian group. The plan seeks to consolidate Enel’s Chilean assets into Enersis Chile and the company’s assets in other Latin American countries into Enersis Americas.

Last November, before the beginning of a corporate reorganization process, a previous iteration of Enersis had announced $1.7b of investment in Chile.