Banco BICE finances 15 MW hydroelectric facility in Chile

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Banco BICE finances 15 MW hydroelectric facility in Chile

Banco Bice has provided financing to Hidropalmar S.A., the company responsible for the development of the Pasada Palmar-Correntoso hydropower plant in Chile. 

The financing consists of two packages. The first package amounts US$26 million and it will be used for the construction of the facility. The second package amounts US$5.3 million and it will help financing the VAT associated with the project development.

The project in being developed by HidroAustral S.A., a susidiary of the Italian firm Idroenergía. Located in in Rupanco Norte, it involves the design, construction, finance, operation and maintenance of a 15 MW hydropower plant. The new facility is expected to be able to generate around 62.140 MW annually.

Morales & Besa has acted as financial advisor for Banco Bice during the financial closure. 

Share this news