Enel seeks financing for geothermal plant in Chile
Enel Green Power through the Inter-American Investment Corporation (IIC) has recently announced that it is seeking financing for the 48 MW Cerro Pabellón geothermal plant, which is being developed at the Apacheta geothermal concession, 1,300 km north of Santiago, at an altitude of 4,500 masl.
More specifically, Enel Green Power Chile has requested financing for an amount of US$30 million from the IIC in its capacity as administrator of the Clean Technology Fund in the form of a short-to-medium term loan, which could be partially or fully convertible to a grant.
In this line the IIC has announced that it intends to hire an independent environmental and social consultant for due diligence to evaluate the risks present, confirm the project categorization, assess management plans to mitigate these risks, and define a project action plan.
The project comprises two 24 MW units for a total gross installed capacity of 48 MW. Once fully operational, Cerro Pabellón will be able to generate nearly 340 GWh per year. The project is supported by long-term power purchase agreements (PPA).
The electricity generated by Cerro Pabellón will be delivered through a 80 kilometer transmission line to the transmission network of Chile's northern region (SING - Sistema Interconectado del Norte Grande). The project has a total cost of US$320 million.
Commercial operation of the power plant is expected to occur in the first half of 2017.
Country news
-
-
June 08, 2016
Inframed acquires stake in Egyptian solar project
InfraMed has entered into an agreement to become a 49% shareholder in a company developing a 50 MWac greenfield photovoltaic solar farm project in Egypt. Read more -
June 08, 2016
BICE bank finances RP Global’s first hydro project in Chile
RP Global has secured financing for a 3 MW small hydropower plant in Chile. BICE bank is providing $7.2M of senior debt and a $1.7M VAT facility for the project, Tranquil, which is already under construction. Read more -
June 02, 2016
Elecnor - APG win another transmission concession in Chile
Elecnor, through its subsidiary Celeo Redes, has won the contract for the Nueva Diego de Almagro transmission concession project in Chile. Read more -
June 01, 2016
Colbún awards 15-Year contract to Total and SunPower
Colbún S.A., the Chile state-owned utility company engaged in the electric power transmission segment, has recently announced the award of a 15-year power purchase agreement to Total and SunPower for 500 gigawatt hours (GWh) of photovoltaic solar energy per year. Read more -
May 09, 2016
Colbun acquires SunEdison PV projects in Chile
Chilean power company Colbún has acquired stake in SunEdison's pipeline project in Chile. The company has also signed a contract whereby it will supply power for a PV solar project which Sun Edison is developing in the country. Read more
