May 8, 2018 / 11:49 AM / a year ago

AES Gener announces $3 billion plan to restructure Chilean hydro project

SANTIAGO, May 8 (Reuters) - AES Gener in Chile on Tuesday announced a more than $3 billion plan to restructure its Alto Maipo hydroelectric project, as it seeks to revive the venture following a series of setbacks last year.

Alto Maipo - which includes two power plants and a vast array of tunnels running deep under the Andes Mountains outside of Santiago - slid into technical default last July after it dismissed one of its contractors, leading to cost overruns.

Reporting by Dave Sherwood

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