Santa María II will still waiting while Bocamina II remains paralyzed
In the electric company also expects authority support the initiative.
Santa Maria II, the Colbún’s thermoelectric project of 350 MW located in the city of Coronel, will continue waiting. According to reports, the decision to promote this coal initiative which is environmentally approved, depends on two events.
The first relates to the outcome of Bocamina II, owned by Endesa, which is awaiting a ruling by the Court of Appeals, following appeals lodged against the power of groups of fishermen. This thermoelectric unit, which is also located in the area of Coronel, is paralyzed for several months.
The second event is related to finding an explicit support to the initiative by the authority, considering that this met all environmental approvals and procedures required for approval.
The center of the Matte group, which considers an investment of about U.S. $ 850 million, is the second largest generator company of this type that the company runs in the area after Santa María I. While it has all the necessary permits for construction, Bocamina II paralyzing and permanent climate of opposition that exists in the area around generation projects are gravitating factors for Colbún in the decision to continue on hold until an outcome on the future of the Endesa’s generating unit occurs. However, if the electric company of the Matte Group decides to start construction, it is estimated that this would take a near-term to 40 months.
As discussed by sources close to the electrical industry, government authorities in the energy sector would agree on the need to express explicit support to the project of Matte group in the region, and how it evaluated to show that the Government is in favor of thermoelectrical is built. Only then Colbún would take the decision to build this second unit.
Sources of the company recognize that after other experiences that have faced with some initiatives will opt to take long walks, but accurate ones, in the decision to begin investment in construction projects. Thus, seeking to limit the maximum risk associated with their investments.
Source: El Mercurio
