Xstrata Sells Chilean Generator

Xstrata Sells Chilean Generator

Chile Europe M&A

Global miner Xstrata has sold off a 51% interest in Energia Austral, a hydroelectric development in Chile, to Origin Energy. The deal contemplates Origin Energy’s coverage of an initial $75m in development costs to complete a detailed project study, plus an additional $75m for final investment, Xtrata says. The deal also involves additional deferred payments to Xstrata when certain operational thresholds are met by Origin Energy once the project is operational, but details were not released. Off

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