Los Andes Copper, Icafal announce plans for 30 MW hydroelectric project in Chile

Chile Flag

Vancouver-based Los Andes Copper Ltd. has entered into an agreement with Icafal Inversiones SA to develop and finance a 28-30 MW hydroelectric plant on the Rocin River in Chile.

Acting through its wholly-owned subsidiary, Rocin SpA, Los Andes will incorporate a new subsidiary company to own, develop, build and operate the Rocin project.

Meanwhile, Icafal SA, parent company of Icafal Inversiones, has agreed to invest US$7.5 million into the subsidiary. $2 million of the investment will be used to finance the development of the plant, with the remainder to partially fund construction pending the project's regulatory approvals. The investment also gives Icafal a 36.3% stake in the unnamed subsidiary.

Los Andes said it expects the development and construction of the Rocin project to take a maximum of four years to complete, at which point revenues generated by the plant will provide working capital for exploration and feasibility work at the company's Vizcachitas mining operation.

The company acquired the non-consumptive water rights to the Rocin River this past August.

For more news from Latin America, visit here.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs