Monday, December 10, 2007

Endesa Chile to invest $1.2 bln in hydro plants

CANELA, Chile, Dec 6, Endesa Chile, the nation's largest electricity generator, plans to invest $1.2 billion through 2011 to build hydroelectric plants to feed the country's ravenous energy needs, the company said on Thursday.

Endesa Chile President Mario Valcarce said the investment would be part of a broader five-year plan to invest $2.5 billion in Chile's electrical sector, including thermoelectric and alternative sources of energy.

"Looking toward the next five years, Endesa is going to invest about $2.5 billion in Chile projects," Valcarce said after inaugurating a wind-generation plant in the northern Chilean town of Canela.

"Of those, $1.2 billion will go to additional hydro projects that we are building."

Valcarce said that figure did not include the $4 billion Hidroaysen project that is being planned by Endesa and generator Colbun COL.SN. (Reporting by Monica Vargas, editing by Gerald E. McCormick)

Here is the full article.