Electric utility Endesa Chile and Colbun have secured an environmental clearance from the regulatory bodies for the construction of the proposed $7bn HidroAysen hydro-power dam project in Chile.
The project involves construction of total five dams two on the River Baker and three on the Pascua River.
The first of the power stations will commence operation in late 2019 and the entire complex will be complete by 2025.
On completion, the dams are expected to generate combined energy of 2.75GW, nearly a third of central Chile’s current capacity, within 12 years.
HidroAysen executive vice president Daniel Fernandez said the Aysen region will receive cheaper energy and about $350m in infrastructure, including seaports and airports.