KfW IPEX-Bank finances Hydroelectric Power Plant in Chile

KfW IPEX-Bank provides financing for the Alto Maipo Project in Chile. The planned two run-of-river hydroelectric plants will be able to generate about 531 MW and will be located near the capital Santiago. Together with eight Chilean and international banks KfW IPEX-Bank is providing a project finance credit which adds up to USD 1.2 billion and has a tenor of 20 years. Alto Maipo is 60% owned by AES Gener and 40% by Antofagasta Minerals.

Constructora Nuevo Maipo SpA – a consortium formed by the German HOCHTIEF A.G. and the Italian C.M.C. Di Ravenna – as well as the Chilean subsidiary of Strabag AG from Austria will conduct the main tunnelling construction works. The Brazilian and Chilean subsidiaries of Voith Hydro from Germany will supply and erect the plants’ electro-mechanical equipment.