South America consortia
Privatization of hydropower assets is creating new consortia opportunities throughout South America. This is particularly true in Argentina, where recent operating concession and ownership arrangements with CMS Generating Co. and Duke Energy Corp. for the country's two largest hydropower projects are the latest developments in Argentina's effort to develop private power. By the end of last year, Argentina had opened more than 7,000 MW of generation assets to privatization. In July, Hidroelectrica Norpatagonia S.A. (Hidronor) sold the 1,320 MW El Chocon project located on the Limay River in southwestern Argentina to the Hidroinvest S.A. consortium composed of CMS Generating Co., Chilean electric company Empressa Nacional de Electridad (Endesa), the Argentina province of Neuquen, BEA Associates and Sawgrass Limited of Spain. CMS holds about 15 percent of the ownership interest in El Chocon, a two-unit facility consisting of the 1,200 MW El Chocon station and the 120 MW Aroyito station on the Limay River. The plants will be operated by CMS according to a 30-year concession agreement. The other Argentine consortium that made financial headlines at the end of 1993 was Hidronenquen S.A., an international group of investors consisting of Duke Energy, Chilgener S.A. of Chile and TransAlta Energy of Canada. This consortium was awarded majority ownership and operation of Hidroelectrica Piedra del Aguila S.A., a 1,400 MW facility also on the Limay River, 62 miles upstream from the El Chocon station. The Emerging Marks Growth Fund Inc. and the New World Investment Fund, based on Los Angeles, Calif., are financial investors for the consortium's $272 million bid, which was selected in November by the government. Hidronenquen S.A. assumed ownership and operation of the complex in December 1993.
- OSTI ID:
- 6994867
- Journal Information:
- Independent Energy; (United States), Vol. 24:3; ISSN 1043-7320
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
POLICY AND ECONOMY
ARGENTINA
ENERGY SOURCE DEVELOPMENT
HYDROELECTRIC POWER PLANTS
SALES
DEVELOPING COUNTRIES
LATIN AMERICA
POWER PLANTS
SOUTH AMERICA
130500* - Hydro Energy- Economic
Industrial
& Business Aspects
296000 - Energy Planning & Policy- Electric Power