Financing Completed for Chile Transmission Projects: E3 Plays Key Role as Independent Engineer
E3 Consulting® (E3) served as Independent Engineer to lenders for the recent financing for the construction and expansion of four power grid projects in the Republic of Chile. Known as Transelec Concesiones S.A.’s Trunk Expansion Project, the four projects are: (i) Nueva Charrúa Substation and line, (ii) Pichirropulli – Puerto Montt transmission line, (iii) Los Changos-Kapatur transmission line, and (iv) Los Changos – Nueva Crucero Encuentro transmission line including automatic transfer transformer banks in Nueva Crucero Encuentro substation and Los Changos substation.
The E3 team worked with the “Mandated Lead Arrangers” KfW IPEX-Bank, the Export Development Bank of Canada and MUFG on financing approximately US$120 million each for a total of $360 million of debt capital. Total project estimated cost is between $400 and $435 million. E3 addressed the engineering, commercial, and environmental aspects of the expansion Project. Each project is in a different stage of progress and is being executed independently under separate Engineer, Procure, and Construct Contracts.
“This marks the second major electric transmission project that E3 has been involved with in Chile,” says Paul Plath, E3’s president, noting that E3 recently served as the lender’s Independent Engineer on the Transmisora Electrica del Norte (TEN) 500 kV Transmission Line, which connected two major grids in Chile for the first time. “We’ve appreciated the opportunity to work with Transelec and are excited about our continued work in Chile and on major transmission projects in general,” Plath noted.
For additional information on these projects, please contact John Purcell at 720-253-5275 or firstname.lastname@example.org.