A consortium led by Iberdrola has been selected to participate in the tender for the construction and operation of the first long-distance HVDC power line in Chile.
The 1,500km 600kV power line will have a capacity of 3,000MW and run between the Kimal substation, in the Antofagasta region, and Lo Aguirre, in the Metropolitan region. If successful, the project will require over US$2.5bn of investment.
Iberdrola will have a 60% stake in the consortium, which also includes Celeo, owned by the Spanish company Elecnor, and the Dutch pension fund APG. Elecnor has more than a decade of experience delivering networks projects in Chile, having built more than 1,000km of lines and electricity networks infrastructure.
The project also includes the construction of two converter stations, using Siemens technology, which will support the connection of renewable energy in the regions with high levels of demand. The project will also include upgrading work at existing substations.
The process has officially started with the submission of bids. The announcement of the winning consortium will be made on 13 December 2021, and the commissioning of the line is estimated in 2028.
Chile has the potential to be a new growth market for Iberdrola, following the company’s entry in to new European and Asia Pacific markets in the last 18 months, and new investments announced to strengthen its position in core markets.
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