Los Andes Copper, Icafal announce plans for 30 MW hydroelectric project in Chile

Chile Flag

Vancouver-based Los Andes Copper Ltd. has entered into an agreement with Icafal Inversiones SA to develop and finance a 28-30 MW hydroelectric plant on the Rocin River in Chile.

Acting through its wholly-owned subsidiary, Rocin SpA, Los Andes will incorporate a new subsidiary company to own, develop, build and operate the Rocin project.

Meanwhile, Icafal SA, parent company of Icafal Inversiones, has agreed to invest US$7.5 million into the subsidiary. $2 million of the investment will be used to finance the development of the plant, with the remainder to partially fund construction pending the project's regulatory approvals. The investment also gives Icafal a 36.3% stake in the unnamed subsidiary.

Los Andes said it expects the development and construction of the Rocin project to take a maximum of four years to complete, at which point revenues generated by the plant will provide working capital for exploration and feasibility work at the company's Vizcachitas mining operation.

The company acquired the non-consumptive water rights to the Rocin River this past August.

For more news from Latin America, visit here.

HydroVision International 2014 Keynote Speakers

Presenting the HydroVision International 2014 Keynote Speakers

Check out a slideshow covering the keynote speakers at the HydroVision International 2014 conference and exhibition

Click Here >>

Hydro Industry Financials

Most Read Articles

Recent Comments

Buyers Guide Companies

Studio Ing G Pietrangeli Srl

We have 49 years of international experience. 1...

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

07/01/2014
Volume 33, Issue 6
file
07/01/2014
Volume 22, Issue 4
file

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues