Chile's Colbún eyes Colombia, Peru

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Wednesday, July 30, 2014

Chilean power generator Colbún is searching for growth opportunities in other countries such as Colombia and Peru.

"These countries have an attractive economic environment and their electricity sectors have a well-established regulatory framework," the company said in its latest quarterly report.

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The power producer added that these markets could help increase diversification in terms of hydrological conditions, generation technologies and fuel access.

Colbún's portfolio of Chilean projects includes hydros La Mina (34MW) and San Pedro (144MW) and a 350MW second unit at the Santa María coal plant. The company was also involved in the development of the controversial 2.75GW Hidroaysén project, which was rejected by the government last month.

Colbún is the second largest generator on the central SIC grid with 3.28GW installed capacity (52% thermo, 48% hydro) spread over 23 plants.

In 2Q14, the group's energy sales rose 6% year-on-year to 3.4TWh, generation increased 25% to 3.5TWh on startup of the 316MW Angostura hydro plant, and net profit increased 71.7% to US$71.6mn.

BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda.