Chile utilities agree to develop 2,335-MW Aysen

Chilean utilities Endesa Chile and Colbun S.A. agreed April 26 to develop four or five hydroelectric projects totaling 2,355 MW in southern Chile’s Aysen Region.

Endesa Chief Executive Rafael Mateo said the company anticipates the study and permit process for the US$2.4 billion project will be complete by late 2008. Tendering is expected to be conducted at that time. Projects would be brought on line from 2012 to 2018.

Endesa and Colbun S.A. previously said they were in advanced negotiations for joint development of the projects.

Endesa — Empresa Nacional de Electricidad S.A. — has water rights in Chile’s southern Region XI to develop the 680-MW Baker 1 and 360-MW Baker 2 projects on the Baker River and the 450-MW Pascua 1 and 940-MW Pascua 2 projects on the Pascua River, collectively called the Aysen project.

Endesa has said it expects to spend US$30 million in the next two years, including US$6 million in environmental impact studies, before making a final decision to invest in the projects. In 2005, Endesa and Chilean engineering firm Ingendesa initiated the first draft of a feasibility study of the projects, including land studies and an environmental baseline.

For information, contact Empresa Nacional de Electricidad S.A., Santa Rosa No. 76, Santiago, Chile; (56) 2-6309000; Fax: (56) 2-6353938; E-mail: comunicacion@endesa.cl; Internet: www.endesa.cl.

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