Xstrata Copper will retain a 49% stake to support Energía Austral’s development.
As part of the agreement, Origin will invest $75m in project development costs over the next several years and potentially a further $75m toward a final investment decision.
Energía Austral’s hydroelectric projects have been designed under Xstrata’s industry-leading sustainable development standards.
The projects include three hydroelectric plants Cuervo, Blanco and Condor with about 1,000MW capacity that will deliver clean energy through a new transmission system to the nation’s Central Interconnected Grid.
The projects are in the feasibility study stage and a final investment decision to proceed to construction is expected in 2015/2016.
