Chile’s biggest dam put on hold after investor pulls out

Chile’s biggest hydroelectric dam project has received a further setback after one of its investors said it lacks political support to go forward with the venture.

The project has also received negative publicity after protests over plans to flood 14,000 acres of Patagonia wilderness.

Hydroelectric dam

Santiago-based power company Colbun SA (COLBUN), which holds 49 per cent of the 2750 MW HidroAysen, said last night it wants to indefinitely suspend plans to seek environmental permission to build transmission lines to the capital.

Empresa Nacional de Electricidad SA, known as Endesa, owns the remaining 51 percent.

Local media report that Brazil’s Centrais Eletricas Brasileiras SA (ELET6), known as Eletrobras, is in talks to invest in the project.

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