Endesa Chile has given up the water rights to six hydropower plants in Chile, which the company says have been identified as being unviable.
Endesa Chile has given up the water rights to six hydropower plants in Chile, which the company says have been identified as being unviable.
According to reports from Reuters, the company has rescinded the rights for the Bardon, Chillan 1 and 2, Futaleufu, Puelo and Huechun hydro plants. Chief Executive Valter Moro was reported as stating: "In the case of these projects … we've concluded that they are not viable and for that reason we are returning the water rights to the state so they can be used for some other type of development."
The company is expected to take a $52 million writedown this year as a result of dropping the schemes.