Pacific Hydro to invest USD 2bn in Chile by 2020 - report
Nov 3, 2011 - Australian renewable energy company Pacific Hydro Ltd plans to invest USD 2 billion (EUR 1.451bn) in hydroelectric and wind power projects in Chile by 2020, local daily La Tercera reported yesterday, quoting the company's CEO, Rob Grant.
Pacific Hydro will enter the local wind power sector as of 2012. Currently, it conducts studies in the Coquimbo and Valparaiso regions, seeking wind projects with a capacity of at least 100 MW.
The new hydroelectric and wind projects will double the company's installed capacity in Chile to 1,100 MW, as the capacity of the completed and the currently developed projects stands at 520 MW.
Last week Pacific Hydro opened its 111 MW Chacayes hydroelectric plant in the Alto Cachapoal Valley. The company also participates in the La Higuera and La Confluencia hydroelectric plants in association with Norway's SN Power.
(USD 1 = EUR 0.726)
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