New Energy market report from Business Monitor International: "Chile Power Report Q1 2013"

Boston, MA -- (SBWire) -- 03/19/2013 --BMI View: Energy continues to generate concerns in Chile, as the country's expanding middle class bring with it an increase in demand for electricity and current generating capacity is not keeping pace. Another dry year means that hydroelectric sources of power are less productive, but large-scale projects such as HidroAysen are losing popular support. Chile's government has a challenge on its hands to ensure that electricity supply meets demand. There have been many positive developments in Chile's power market in Q412, with new transmission and distribution projects approved, and progress on Cochrane coal-fired power plant and the Alto Maipo hydroelectric power plant reported.

Domestic demand for energy in Chile is growing, and hydroelectricity supplies the majority of this demand - a source of power that is subject to risks, as recent dry seasons illustrate, and Chile needs to diversify its electricity-generating mix to ensure that supply meets the growing demands of the population and its energy-intensive mining industry.

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During 2013-2017, BMI forecasts that Chile's total power generation will increase by an annual average of 3.90%, reaching 74.5 terawatt hours (TWh) at the end of this forecast period. The population is expected to rise from 17.4mn to 18.7mn during 2011-2021, and net power consumption looks set to rise from 58.6TWh in 2011 to 69.9TWh by 2017, and then to 85.6TWh by 2021. The theoretical net export capacity by 2017 is 36.3TWh.

Key developments for Chile's power sector this quarter include:

- Japan's Mitsubishi announced plans in November 2012 to acquire a 40% stake in the Cochrane coal-fired power station. Mitsubishi will develop the project with AES Gener, which will hold a 60% share.
- Colombia's ISA was awarded three contracts in Chile in October 2012, to design, construct and operate a 743km series of transmission lines.
- AES Gener's Chilean subsidiary awarded Austria's Strabag a design and build contract for the tunnelling and civil works of the 513MW Alto Maipo hydropower project.

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