Red Eléctrica awarded a new project in Chile

The Red Eléctrica Group, through Red Eléctrica Chile in a 70/30 consortium with Cobra, Instalaciones y Servicios, has been awarded the contract for the execution and subsequent management and operation of more than 258 kilometres of electricity line in Chile, in an international public tender carried out by the Centro de Despacho Económico de Carga del Sistema Eléctrico del Norte Grande (SING)

The project includes the design, financing, construction, operation and maintenance of the first 220 kilovolt (kV) circuit of the Nueva Pozo Almonte-Pozo Almonte line; the Nueva Pozo Almonte-Cóndores line, and the Nueva Pozo Almonte-Paranicota line, as well as the 220 kV Nueva Pozo Almonte substation - all part of the SING (Interconnected System of Norte Grande).

The estimated investment amounts to 96 million dollars (about 90 million euros) and the construction period for the substation is two years and four years for the lines.

The awarding of this project consolidates the role of Red Eléctrica as an electricity transmission company in Chile, where it currently owns 50% of the company called Transmisora de Electricidad (TEN), which is constructing the first interconnection between the north and central electricity subsystems of the country and that is expected to be commissioned in the second half of this year.

Additionally, it is a further step in the Group's internationalisation strategy, following the start of its activity in Chile in 2016 and having consolidated its position in southern Peru after being awarded two new projects in 2015; all of which positions Red Eléctrica as one of the main players for an probable interconnection between Chile and Peru.

At present, Red Eléctrica manages 1,185 kilometres of electricity line in Peru and 1,206 in Chile, which will reach 1,464 with the awarding of this project.


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