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2019-06-13 13:00 CEST
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Statkraft to build Los Lagos hydropower plant in Chile

(Oslo/Santiago, 13th June, 2019) Statkraft has decided to start construction of the Los Lagos hydropower plant in Chile. The construction is planned to commence in August and completion is scheduled for second half of 2022. The power plant will have an installed capacity of 52 MW and an annual production of 260 GWh.

The total investment cost of Los Lagos hydropower plant is estimated to approximately USD 200m.The contract for civil works has been awarded to a local consortium consisting of the three construction companies Brotec, Valko and OBChile. The electro- and hydromechanical equipment will be delivered by Voith, who will supply the major components and construction services from their facilities in Brazil.

"Chile is an attractive market for Statkraft, with an increasing demand for renewable energy and several opportunities for developing both hydro, wind and solar. In line with our strategy, we are working to build scale in Chile. We want to capitalise on our combined expertise in power generation and market operations to best serve the market and provide energy to large industrial customers in the country", says EVP for International Power, Jürgen Tzschoppe.

Los Lagos hydropower plant will be located on the Pilmaiquen River, downstream of Statkraft's operational Rucatayo hydropower plant. The location is close to the city of Osorno, about 900 kilometres south of the capital Santiago.

In February 2015, Statkraft acquired Eléctrica Pilmaiquén S.A. Company, including the rights to develop the Los Lagos Project. Technical assessments and a comprehensive consultation process have been finalised in accordance with Statkraft standards and in line with international best practices. Stakeholder engagement with indigenous communities and other local stakeholders will continue with the aim of establishing a long-term relationship.

Statkraft has been present in Chile since 2014 and today the company owns a production capacity of 370 MW with an annual production of 1188 GWh. To further strengthen its position in Chile, the company is also assessing wind and solar opportunities and evaluating possibilities for bidding in future renewable energy auctions.

Facts about Los Lagos hydropower plant:

Installed capacity: 51.6 MW
Annual average generation: 260 GWh/year
Total investment cost: USD 204m
Electro- and hydro mechanical contractor: Voith
Civil contractor: Local consortium consisting of Brotec, Valko and OBChile

About Statkraft
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3600 employees in 16 countries.

For more information, please contact:

Gabriel Guichard, Corporate Affairs, Statkraft Chile
e-mail: Gabriel.GuichardHerrera@statkraft.com

Lars Magnus Günther, Head advisor Corporate Relations, Statkraft AS
Mob. +47 91241636
e-mail: lars.gunther@statkraft.com

www.statkraft.cl
www.statkraft.com

HUG#2246028