GE secures project financing for Los Guindos expansion
16 April 2018
GE (NYSE: GE) unit, GE Energy Financial Services secured USD 150 M project financing to refinance and expand the Los Guindos open-cycle thermoelectric power plant in central Chile.
This is a milestone for GE Energy Financial Services, 75% owner of the existing 139-MW open-cycle Los Guindos Power Plant, and its local co-owner, The Ingelec Group which operates the plant. The expansion of the power plant will nearly double its overall capacity to approximately 275 MW with the installation of a second GE 9E.03 turbine, equipped with dual gas-liquid fuel combustion system, DLN emissions control, A39 generator and control systems, for an increased power and performance.
Upon completion of the expansion in Spring 2019, Los Guindos will continue to benefit from the well-established regulated capacity market regime in Chile, which was designed to provide a stable supply of backup power to supplement the intermittent sources of renewable energy in the region, in particular hydro and increasingly wind and solar.