Pacific Hydro takes full control of Chile’s 111-MW Chacayes hydropower project

Italian contractor Astaldi has announced it will sell its 27.3% interest in Chile’s 111-MW Chacayes hydroelectric plant to Pacific Hydro Chile.

The US$44 million deal gives Pacific Hydro — a subsidiary of China’s State Power Investment Corp. (SPIC) — complete ownership of Chacayes and is “in line with Astaldi’s strategies,” according to a company statement.

The agreement is expected to close by the end of this month.

Chacayes is located in the Alto Cachopoal Valley and was the first of six run-of-river project planned by Pacific Hydro for the region. Pacific Hydro, then an Australian company under different ownership, awarded Astaldi a $282 million contract to build the plant in 2008.

SPIC took over Pacific Hydro in December 2015, giving the Chinese conglomerate control over Chilean interests that also include the 155-MW La Higuera, 164-MW La Confluencia and a 310 MW plant in the Tinguiririca Valley operated as a joint venture with Tinguiririca Energy.

For more news from South America, visit here.

Previous articleIncreased cost, delayed commissioning date announced for 695-Keeyask hydropower plant in Manitoba
Next articleTunnel repair completed at 30-MW Chameliya hydropower project in Nepal
Michael Harris formerly was Editor for

No posts to display