AES Gener concludes Alto Maipo financing process and begin construction in December
The company reported that nine banking institutions will finance loans up to U.S. $ 1,217 million
The Alto Maipo project closed its funding process, which will begin the execution of his major works during this month, reported AES Gener during the day.
The last draft hydro project (531 MW) considers an investment of approximately U.S. $ 2,050 million, which will be financed by loans of up to U.S. $ 1,217 million and capital contributions from AES Gener and AMSA, in proportion to their respective shareholdings.
The financing was structured in the form of a project awarded to a 20-year term by a syndicate of multilateral banks and commercial, domestic and foreign banks, composed of Overseas Private Investment Corporation (OPIC), Inter-American Development Bank (IDB), international Finance Corporation (IFC), CorpBanca, Banco de Credito e Inversiones, Banco Itaú Chile, Banco del Estado de Chile, KfW Ipex-Bank GmbH and DNB Bank ASA, in compliance with strict environmental and social standards internationally.
For the construction of the Alto Maipo will take part Austrian firm Strabag SpA, the Chilean subsidiary of Strabag AG Austria and Constructora Nuevo Maipo SpA, a consortium of the German company Hochtief AG and the Italian company CMC Di Ravenna, who will be responsible for the construction of tunnels, for its part, the subsidiaries in Brazil and Chile from the German company Voith Hydro will be responsible for the supply and installation of electromechanical equipment of the plants.
Luis Felipe Ceron, AES Gener’s General Manager, said that the “execution of this funding agreement is a milestone of great relevance in the development of the project, as it will kick off the main works of the same. We are delighted to have the funding of this prestigious group of multilateral, international and local “banks.-
Ceron added that Alto Maipo, to be operational by 2018, “is a key initiative to the country’s development. Together with our Cochrane Central, located in the Northern Interconnected System (SING), are the most important construction projects, and will allow supply the growing energy demand of the country. “
The AES Gener’s general manager said that Alto Maipo being so close to Santiago, just 50 km, will greatly increase the security of supply of the main consumption centers of the country.
The Alto Maipo project includes the construction of two river hydroelectric power plants to provide 531 MW to the Central Interconnected System (SIC). It will have 17 km of new transmission lines, which are connected to which AES Gener currently in the area.
Source: Emol.cl
