SN Power to develop three projects in Chile

Statkraft Norfund Power Invest (SN Power) plans to build three hydroelectric projects totaling 500 MW in Chile’s Region X, a local official told Business News Americas.

Futrono Mayor Jorge Tatter Onate said the 300-MW Maqueo hydroelectric project is to be built in Futrono for an estimated investment of US$350 million, while 125-MW Liquine and 75-MW Pellaifa are to be built in Pellaifa for US$150 million and US$100 million.

The joint venture of Norwegian utility Statkraft and investment fund Norfund recently acquired water rights for the areas and began feasibility studies for the three run-of-river projects. SN Power representatives visited Region X in May to meet community members for the first time and to address concerns.

SN Power subsidiary Hidroelectrica Trayenko is to hold an 80 percent stake in the venture, while 20 percent is held by Chilean businessman Gustavo Pavez.

Newspaper El Mercurio reported the company still must secure provisional concessions, conduct environmental impact studies, and produce maps of the areas before it can begin construction. Construction is expected to begin in 2009 and be complete from 2012-2014, local press said.

SN Power plans to sell carbon emissions credits to finance the projects, newspaper Estrategia said.

SN Power already is developing the 155-MW La Higuera and 145-MW La Confluencia projects in Chile with Australian developer Pacific Hydro.

For information, contact SN Power Chile Inversiones Electricas Ltda., General Manager Nils Morten Huseby, Av. Nueva Tajamar 481, No. 302, W.T.C., Torre Norte, Las Condes, Santiago, Chile; (56) 2-2034045; E-mail: info@snpowerinvest.com; Internet: www.snpowerinvestment.com.

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