Colbún is developing power generation projects in Chile with combined installed capacity of more than 1.3GW, the Santiago-based firm said in a midyear report.
The pipeline is headed by the 607MW Horizonte wind farm in northern Antofagasta region and also includes four hydropower plants, as well as a solar park.
"Colbún is seeking to increase its installed capacity, while maintaining a relevant participation in the hydroelectric generation industry, with a thermoelectric and renewable component that allows having on a safe, competitive and sustainable generation matrix," the company said in the report.
The projects are:
San Pedro hydroelectric project (170MW)
Colbún is preparing the background to re-submit an Environmental Impact Study (EIA) for the project, having had a previous study rejected in 2015 due to a lack of essential information.
"In parallel, we continue developing an explicative and clarifying meeting process plan with municipalities, communities, neighborhood, regional authorities, and indigenous communities, among other stakeholders, with the objective of identifying the best way to insert this project in the area," Colbún said.
El Médano hydroelectric project (6.6MW)
The plant's environmental impact declaration was approved in April and the company has started the bidding process for construction and purchase of equipment, which will be concluded by September. "It is estimated that with this information the decision to start construction could be made," Colbún said.
Horizonte wind farm (607MW):
Colbún estimates the development phase for Latin America's largest wind farm project will include a four-year period for studies and permits and another three years for construction. During the second quarter of 2018, Colbún continued with the feasibility and studies stage.
Sol de Tarapacá solar project (150MW):
During the second quarter of 2018, progress was made with the review of the existing background and definitions for the updatie of environmental studies to make the project viable.
Guaiquivilo Melado hydroelectric project (316MW):
In the second quarter the company proceeded with the development of studies and preparation of background information to carry out the submission to the EIA process.The project includes an associated transmission line of 220kV to inject energy into the SEN.
Los Cuartos hydroelectric project (93MW):
Colbún said it decided to defer the development of the project while the market conditions for executing the initiative are not in place, which are monitored continuously.
Meanwhile, Colbún reported second quarter net income of US$44.8mn, down from US$78.3mn a year earlier. The company said it was impacted by higher non-operating losses recorded during the quarter.
At the close of 2Q18, financial investments amounted to US$696mn and net debt was US$939mn.