SN Power`s two large run-of-river hydropower plants inaugurated today

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Chile`s president, Sebastián Piñera, inaugurated SN Power`s two large run-of river hydropower plants in Chile.

26-10-2010

The two run-of-river hydropower plants “La Higuera and La Confluencia” was inaugurated on October 26th by Chile`s president Sebastián Piñera.

Together the two plants will contribute with more than 310 MW of clean energy, enough to supply more than 900 thousand Chilean households with renewable electricity. 

In his inauguration speech the president said; “Chile has an ambitious goal of combining an economic growth of 6 % per year, while at the same time reduce the country`s CO2 emissions by twenty percent by 2020. In order to reach these goals, we need 12 thousand MW of new energy capacity installed by the end of this decade”.

A big reduction in Chile`s CO2 emissions

The launching of these power plants is a benchmark on energy matters for Chile, because the last run-of river hydropower station with a capacity over 100 MW started operating ten years ago in 2000.

The two hydropower plants will reduce Chile`s CO2 emissions with more than 900 thousand tons per year, equal to removing from circulation more than 250 thousand vehicles.

In March 2006, La Higuera was registered in the Clean Development Mechanism (MDL), becoming the first run-of river hydropower plant in the country and the world’s largest to obtain that status under the Kyoto Protocol.

Combined investment US$ 800 million

La Higuera and La Confluencia have had an investment of more than US$ 800 million. The two plans are located in the Tinguiririca Valley, Libertador Bernardo O´Higgins Region, Chile. 

Jobs and CSR programs to the benefit of thousands

More than 14 thousand people benefited from the construction through direct and indirect jobs, contributing to the regional, local and national development. The developer and owner of the two plans is Tinguiririca Energía, a Joint venture between Australian Pacific Hydro and Norwegian SN Power.

In 2007 Tinguiririca Energía established the Tinguiririca Participa program. Through this initiative, projects identified by the community in the areas of health, education and community development are funded. 98 projects have so far been funded, to the benefit of the six thousand people that live in proximity of the plants. 

SN Power:
SN Power is the only significant hydropower development company in the world, operating exclusively in emerging markets. The company is a joint venture between Statkraft and Norfund and has projects and operations in Asia, Latin America and Africa. SN Power is working to develop a portfolio of 4,000 MW of hydropower plants by 2015, while combating climate change and contributing to sustainable development.
SN Power has over 5000 people employed in twelve countries around the globe. Our headquarter is in Oslo, Norway.

Pacific Hydro:
Is an Australian company specialising in hydroelectric and wind farm projects across Australia, the Asia-Pacific and Latin America.  
www.pacifichydro.com.au

Press contacts: Karin Greve-Isdahl
Kgi@snpower.com
0047 41A19 2329