10 December 2015

Celeo closes debt on Charrúa-Ancoa Transmission line

Elecnor taking forward key infrastructure in Chile

Celeo closes debt on Charrúa-Ancoa Transmission line

The Closing calls for the construction, operation and maintenance of a 500 kV, 196.5 km line linking the Charrúa substation in region VIII's Cabrero municipality and Ancoa substation in Chile's region VII's Colbún municipality.

The project belongs to Charrúa Transmisora de Energía S.A., a subsidiary of Celeo Redes Chile, the Chilean unit of Spanish firm Celeo Redes SL, which is majority owned by Grupo Elecnor S.A., and 49% owned by Dutch pension fund APG.

Last month, Chilean president Mrs Bachelet and Energy Minister Máximo Pacheco inaugurated the first circuit of the Ancoa - Alto Jahuel line of 2 * 500 kV, which has a value of USD 250 M and a transmission capacity of 1,500 MVA. In 2016 the second circuit will be added, resulting in an additional capacity of 3,000 MVA which represents 40% of demand in in SIC. Extension of transmission capacity is the main challenge for Chile to foster growth of its renewable energy fleet.

Voltiq, after having been the arranger of the transaction between Celeo and APG back in 2014, supports the sponsors with financial structuring services.

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