General Electric, Latin America, North America

Duke group building Nueva Renca in Chile

Issue 2 and Volume 4.

Duke group building Nueva Renca in Chile

A consortium, led by Duke Energy Corp. of the United States, has reached an agreement to construct Nueva Renca, a 370-MW combined-cycle natural gas-fired plant, to be sited in Chile. The (US)$230 million plant will be located adjacent to Chilgener S.A.`s existing Renca power generating facility in Santiago. The consortium consists of Chilgener, Duke, Nova Corp. and Compania General de Electricidad S.A. The companies have formed Sociedad Electrica Santiago S.A. (ESSA) to own the facility. Chilgener owns 51 percent; Duke, 24 percent; Nova, 15 percent; and Compania General, 10 percent.

ESSA recently signed a contract with General Electric to build the facility and supply the equipment, with a total turnkey cost of approximately (US)$140 million. Commercial operation is scheduled for late 1997 and will coincide with the completion of the GasAndes pipeline, which will supply fuel for the plant.