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Chile: Enel will invest US$1.4bn through 2012

Alexander Richter 3 Dec 2008

In a geothermal power conference in Santiago, Chile, the president of Enel's Latin American operations Valerio Cecchi confirmed that his company will invest EUR 1.1bn (US$1.4bn) in Latin America through 2012.

In a geothermal power conference in Santiago, Chile, the president of Enel’s Latin American operations Valerio Cecchi confirmed that his company will invest EUR 1.1bn (US$1.4bn) in Latin America through 2012.
The company is currently developing geothermal projects in El Salvador, Nicaragua and Chile, as well as solar hydro and wind projects in other parts of Latin America.

In Chile, Enel will likely continue to develop geothermal projects with JVs with state oil company Enap. The statement goes on that Enel would be willing to work alone, but has to maintain the relationship.
Enap and Enel both have a 50% stake in Empresa Nacional de Geotermia (ENG) JV that has concessions for two geothermal projects underway.

The projects of Enel are separate from Endesa initiatives. Endesa is the Spanish power giant, in which Enel holds nearly 70%.

Source: Business News Americas

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