Chile's E-CL to become 'relevant actor' on SIC grid

Friday, December 12, 2014

Chile-based power generator E-CL was awarded a 5,040GWh/y block in the country's latest regulated market power supply call, the company said.

The contract, related to the country's central SIC grid, will take effect in 2018 and last for 15 years.

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E-CL will supply power from "a diverse portfolio of sources composed of existing installations and new capacity, including natural gas, the Infraestructura Energetica [IEM thermo] project and non-conventional renewable energy," a company release said.

E-CL is the local unit of France's GDF Suez and the principal generator on Chile's northern SING grid.

E-CL will now become a "relevant actor" on the SIC as well, the statement said, and the company will begin a growth phase requiring investments in the tune of US$1.7bn.

The IEM project in Mejillones, Antofagasta region (II), requires an investment of approximately US$1bn for construction of a power plant and port, the company said.

Chile's power transmission and distribution association Empresas Eléctricas and the state's national energy commission (CNE) awarded 85% of the blocks made available, which totaled 13,000GWh/y.

The auction was Chile's first to include blocks designed for NCRE generators, which comprised the majority of bidders.