The La Higuera project is a 155MW run of river hydroelectric power plant, to be built in the Tinguiririca valley, about 150km south of Santiago. The project is being developed by a 50:50 consortium consisting of Australia’s Pacific Hydro and Statkraft Norfund Power Invest AS (SNPI) of Norway.

IFC’s long-term financing consists of a US$35M loan for IFC’s own account, a US$115M syndicated loan for the account of participating banks, and a US$10M subordinated loan for IFC’s own account. Banco Santander Central Hispano SA, DnB NOR Bank ASA, and HSH Nordbank AG joined the syndicated programme as lead arrangers. Nordea Bank Norge ASA is the lead manager, and Skandinaviska Enskilda Banken AB joined as a participant.