El Campesino 640MW combined-cycle power plant

Overview:

• El Campesino 640MW combined-cycle power plant
• Central El Campesino is developing a 640MW natural gas-fired, combined cycle power plant in the Biobío region of Chile, and GNL Penco (Octopus) is developing a floating storage regasification (FSRU) LNG port terminal in Concepción bay as part of a combined project.
• Two 500kV transmission lines and a step-down substation will also be part of the project.
• Cheniere Marketing, a subsidiary of Cheniere Energy, entered a sale and purchase agreement with Central El Campesino where Central El Campesino will purchase 0.6 million tonnes per annum of LNG for 20 years, beginning in 2019.
• Central El Campesino and GNL Penco received an $850 million syndicated loan to finance the construction of the projects. Central El Campesino and GNL Penco each received a $50 million VAT facility from Banco de Crédito e Inversiones.
• The shareholders of Central El Campesino each entered a bankbond facility agreement with Banco de Crédito e Inversiones.
• Central El Campesino has entered a PPA with Enel Generación Chile.

Rani Mehta - Journalist