SANTIAGO, Chile 4/13/12 (PennWell) -- Chilean power producer AES Gener is seeking a loan of up to US$200 million for its 531-MW Alto Maipo hydroelectric project, according to a proposal submitted to the Inter-American Development Bank.
The project, which would come with an overall price tag approaching $1.4 billion, includes two separate hydropower facilities -- 264-MW Alfalfal II and 267-MW Las Lajas. Both plants would be located about 50 kilometers east of Santiago.
AES Gener invited applications for pre-qualification to build and outfit the hydropower plants in June 2010.
The proposal says construction is expected to begin in the second half of 2012, with the plants ready for commissioning by early 2017.
The project is congruent with IDB's strategy for Chile's development, which says the country should increase its power generation from low-carbon sources by 500 MW in the coming years.