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Xstrata's Chile Energy Projects To Require $1.5 Billion Transmission Line

SANTIAGO -(Dow Jones)- A nearly 800 kilometer transmission line for global diversified mining company Xstrata PLC's (XTA.LN) three hydroelectric projects in southern Chile will likely cost $1.5 billion, the head of the company's local subsidiary said Tuesday. Xstrata's local energy subsidiary, Energia Austral, has three hydroelectric projects in the pipeline for the southern Aysen region of Chile, including the 640-MW Cuervo plant, which is awaiting environmental approval; the 375-MW Blanco and 54-MW Condor projects. Energia Austral plans to submit the environmental impact studies for Condor and Blanco in July and August respectively and for the proposed transmission line in the first quarter 2012, Alberto Quinones, the subsidiary's chief executive, told reporters. Quinones also said that Energia Austral was negotiating with the HidroAysen hydroelectric power project--a joint venture between Empresa Nacional de Electricidad SA (EOC, ENDESA.SN) and Colbun SA (COLBUN.SN)--to build their respective transmission lines side by side for around 600 kilometers. HidroAysen, whose five generating units totaling 2,750-MW recently received environmental approval, has faced opposition because of plans to build a nearly 2,000 kilometer transmission line through vast swaths of pristine land and because of plans to dam the Baker and Pascua rivers. By building the transmission lines next to each other, the companies aim to use the same land rights and consolidate the time needed for obtaining those rights. HidroAysen--which may cost upwards of $7 billion to build, including the transmission line, according to industry analysts--will be the nation's biggest power generator in terms of installed capacity. HidroAysen still needs to submit its environmental-impact study for the transmission line. -By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

Stock News for Empresa (EOC)
DateTimeHeadline
06/06/201318:08:15Oman Oil to Enter Chile Gas Market in Partnership with Enagas
06/05/201310:53:10Chile Endesa Reaches Agreement With BG Over Gas Supply Contract
02/21/201311:10:04Chile Residential Electricity Bills to Fall 1.8% on Central Grid
01/29/201314:04:06Chile Endesa Blocking BG Stake Sale in LNG Terminal to Enagas...
12/10/201208:29:08Chilean Endesa, Enersis Jump After Capital Increase Agreement
12/05/201210:44:06Chile Residential Electricity Bills to Fall 0.4% on Central Grid
11/30/201218:02:36Chile Enap Reaches Agreement with BG Over Gas Supply Contract
11/12/201216:55:11Chile Enap, Endesa at Loggerheads with BG Over Gas Supply Contract
10/12/201210:08:02Chile Residential Electricity Bills to Fall 1.3% on Central Grid
09/27/201210:49:33Chile Residential Electricity Bills to Fall 1.4% on Central Grid
09/21/201218:28:13Chile's Environmental Permitting for Energy Projects Under Fire
09/13/201215:36:35Correction on Story About Enagas Acquisition
09/13/201215:14:06Enagas Acquires 20% Stake in GNL Quintero From BG for $176 Million
09/12/201217:54:35Chile Power Cos. Worried About Environmental Permitting Framework
08/07/201215:07:13Chile Residential Electricity Bills To Fall 0.3% on Central Grid
08/03/201212:20:06Chile Regulator Details Minority Shareholders' Stake in Enersis
07/27/201211:26:10Chile Enersis Falls 6% on Worries Over $8 Billion Capital Increase
07/24/201220:15:03Chile Endesa 2Q Net Seen Gaining on Higher Hydro Generation
05/11/201213:27:34High Capital Costs Limit Renewable Energy Projects In Chile -IEA
04/25/201215:24:42Chile Endesa 1Q Net Profit Tumbles 32% On Year To CLP66.23 Billion

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