Consortium contracts to build Chilean plant

An international consortium comprised of Chilgener S.A., Chile; Duke Energy Corp., USA; Nova Corp., Canada; and Compania General de Electricidad S.A. (CGE), Chile, has announced an agreement to build and own Nueva Ranca, a 370-MW gas-fired combined-cycle plant, to be located adjacent to Chilgener`s existing Renca power facility in Santiago, Chile. Total projected plant cost is (US)$230 million.

The consortium has formed Sociedad Electrica Santiago, S.A. (ESSA) to own the facility. Ownership of ESSA is: Chilgener, 51 percent; Duke, 24 percent; Nova, 15 percent; CGE, 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.