UPDATE 2-Glencore, Origin put Chile hydropower business up for sale

jueves 8 de septiembre de 2016 11:04 GYT

* No comment from companies involved

* Larger dam projects have struggled in Chile (Adds detail on hydropower in Chile, company no comment)

By Sonali Paul

MELBOURNE, Sept 8 (Reuters) - Glencore Plc and Australia's Origin Energy have put their hydropower business Energia Austral in Chile on the block, with Standard Chartered advising on the sale, two people familiar with the process said on Thursday.

Glencore was among the companies worst affected by a commodity price rout and its share price has been among the biggest gainers from a rebound this year, which has removed some of the pressure to sell assets and pay down debt.

It declined to comment on any decision to divest its hydropower stake. Origin Energy had no immediate comment.

Energia Austral includes three hydropower projects with a capacity of 1,000 megawatts (MW), the biggest being the Cuervo asset at 550 MW, which will be the third-largest hydropower source in Chile, according to a flyer seen by Reuters.

Sources declined to put a price tag on Energia Austral, which has spent $220 million so far on the hydropower projects, and said there was no deadline yet for bids.

Larger dam projects have fallen out of favour in Chile, stymied by local opposition and environmental red-tape.   Continuación...