May 9, 2018 |
AES Gener has completed the financial restructuring related to the Alto Maipo hydroelectric project in Chile, the US power generator said in a securities filing.
Following the agreements, the project cost has increased to roughly $3bn from the $2.5bn estimate last year, and more than the original $2bn budget set in 2013.
Alto Maipo had moved into technical default back in June last year, a step which halted all loan disbursements. At that point, the project had already incurred cost overruns wor
US power generator reveals new EPC contract with Strabag, strikes agreement with lenders to resume loan disbursements