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 w
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