Pilmaiquén owns and operates the 52.5MW Rucatayo hydropower plant located in the south of Chile, including a transmission line which connectes the plant to the grid. The company also owns water rights for three hydro projects in the same river.

The projects include the 54.3MW Osorno and 50.8MW Los Lagos, which are ready for construction. The transmission line has the required capacity to connect all the three projects.

Statkraft will initially acquire 70.47% of Empresa shares. The agreement triggers a mandatory offer to all shareholders.

Statkraft executive vice-president international hydropower Øistein Andresen said: "This acquisition strengthens Statkraft’s position in Chile and expands our project portfolio for further growth within international hydropower."

The transaction is subject to completion of certain conditions.

The acquisition is a part of Statkraft’s efforts to invest in hydropower plants.

 

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