GE Energy Financial Services has partnered in the Chilean power market for the first time with Inprolec SA by acquiring a 75 percent stake in the 139-megawatt open-cycle Los Guindos Power Plant.
Inprolec is a member of the Ingelec Group with over 28 years of experience in the energy industry, and was responsible for the development and construction of the plant, continues to manage its operation and retains a 25 percent ownership interest.
Situated near the Pacific natural gas pipeline 490 kilometers from Santiago, in the Bio Bio region of Chile, Los Guindos operates as one of the most efficient plants in the region with GE's 9E gas turbine. Financial details about the deal has not been disclosed..
The new partnership between GE Energy Financial Services and Inprolec will enable the expansion of Los Guindos to 278 megawatts with the addition of a second GE 9E turbine. The expansion project is currently under development and expected to generate power in 2018. The technology and location of the plant offers the potential to expand it further, with the addition of a steam turbine, to 420 megawatts.
Andrew Marsden, Managing Director and head of EMEA & Latin America at GE Energy Financial Services, stated:
“Los Guindos allows us to deploy capital in one of our priority markets. Our investment offers options for growth alongside an experienced participant in Chile's energy markets with a proven track record of success”