Chilean fund to invest USD 600m in power projects - report

Oct 28, 2014 - Chilean fund manager MBI Inversiones and engineering company Imelsa want to invest nearly USD 600 million (EUR 472.7m) in power projects, including photovoltaic (PV) parks, in the next five years through the Energia 7 fund, set up in 2013, local daily El Mercurio said Monday.

The partners have already presented a 49-MW PV project near Illapel city that could go into operation in 2015, with an investment of USD 90 million. This will be the closest PV facility to Santiago city for now, which offsets power transmission problems for this type of projects.

Energia 7 will initially be able to invest USD 200 million, including USD 65 million of own capital plus debt financing. Apart from Illapel, another advanced project is a thermal plant in La Ligua, while the remainder will be channeled to a small hydroelectric plant and probably another PV park.

The partners want to manage at least 100 MW in one year and have the capacity and size to list as an electricity company on the stock exchange within five years, Karin Kullmer, partner at MBI, and Jordi Daga, portfolio manager of the fund, told El Mercurio.

(USD 1 = EUR 0.788)

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