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16/07/2010 - GDF SUEZ continues strong investments in Latin America
- President of Chile opens new regazification terminal
- Commitment for USD 600 million investment in Peru
Gérard Mestrallet, Chairman and CEO of GDF SUEZ, is visiting Chile and Peru where the Group is involved in major projects demonstrating its continued strong commitment to investing in Latin America. On this occasion, Gérard Mestrallet is meeting Sebastian Piñera, the President of Chile and Alan García Pérez, the President of Peru.
On July 15, Sebastian Piñera, and Gerard Mestrallet inaugurated the GNL Mejillones regazification terminal.
GDF SUEZ has a 50-50 partnership in GNL Mejillones with Codelco, the world’s main copper producer, and the project represents an investment of USD 500 million. After less than 24 months in construction, and within budget GDF SUEZ started in May of this year daily deliveries of two million cubic metres of regasified LNG to four major mining companies in Northern Chile and to the generation companies E-CL and Gas Atacama.
The GNL Mejillones terminal is a strategically important project for Northern Chile, and will supply clean, safe and economic energy to Chile’s mining industry. The terminal will receive a GDF SUEZ LNG carrier every month, and will boost the competitiveness of Chile’s mining sector at world level. GNL Mejillones will also diversify the energy mix in Chile, ensuring independence of supply, and contributing to the generation of clean energy.
On July 16, Gérard Mestrallet is meeting President Alan García Pérez in Lima, to confirm the company’s commitment to continue developing projects in the country, which involve an investment of about USD 600 million over the next four years.
This decision resulted from the Group’s successful participation last April in a long-term energy auction, where the Group was awarded a total of 662 MW, representing a global revenue stream of around USD 1,900 million.
The new projects include the conversion of the thermal power station at ChilcaUno near Lima to combined cycle, increasing its efficiency and total capacity to approximately 800 MW; and the construction of a new 112 MW hydroelectric power plant at Quitaracsa, 500 km to the north east of Lima, to be part of the National Electricity Grid.
Following signature of the EPC contract for ChilcaUno, GDF SUEZ executed a financial leasing agreement with Banco de Crédito del Perú to fund the conversion, through its energy subsidiary in Peru EnerSur. The lease agreement is for up to USD 310 million, the largest in Peru’s history.
Both projects are of vital importance to the Peruvian electricity system, as they will provide much needed power to the country without using gas reserves or adding CO2 to the environment.
With its strong energy demand and renewable energy potential, Latin America is a key market for GDF SUEZ. The Group is the leading private power producer in Brazil where it is currently constructing two major hydro projects.
GDF SUEZ in Peru
Through EnerSur, GDF SUEZ currently has a generation capacity of 1,030 MW. Its production park includes thermal : ChilcaUno, Ilo 1 and 2 and hydro power : Yuncan. With the implementation of its two new projects, the Quitaracsa I Hydroelectric Power Plant and the conversion of the ChilcaUno thermal power plant to combined cycle, the company will reach a total capacity of approximately 1,412 MW by the end of 2014.
GDF SUEZ also has an 8% share in the gas transportation company Transportadora de Gas del Perú.
GDF SUEZ in Chile
GDF SUEZ operates in Chile through E-Cl, the largest electricity producer in Chile’s northern network, representing around 50% of the market. The Group has a 50% stake in the LNG receiving and regasification terminal GNL Mejillones and completed end 2009 the construction of Monte Redondo, a 38 MW wind farm which is part of the country’s central grid. Currently under construction are the thermoelectric plants CTA and CTH in Mejillones (150 MW each), as well as the hydroelectric plant Laja I (34 MW).
Through SUEZ ENVIRONNEMENT’s equity stake in Aguas Andinas, GDF SUEZ is also active in providing drinking water and sanitation services for over 6 million residents in Santiago and neighboring areas, which constitute 38.7% of Chile’s water market. Through Agbar, SUEZ ENVIRONNEMENT controls 56.6% of Inversiones Aguas Metropolitanas Limitada, the 50.1% majority shareholder of Aguas Andinas.
Via Degrémont and for the account of Aguas Andinas, SUEZ ENVIRONNEMENT has constructed Santiago’s Farfana wastewater treatment plant. Designed to process wastewater for 3.7 million inhabitants, the Farfana plant is one of the largest wastewater treatment plants in Latin America and in the world.
| About GDF SUEZ | |
| One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 200,000 people worldwide and achieved revenues of €83.1 billion in 2008. GDF SUEZ is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
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