The Competition Tribunal approved the joint venture by Endesa and Colbún, consisting in the joint construction and operation of the five hydroelectric plants that form “Proyecto Aysén” in the XIth Region of Chile. The operation’s approval was subject to the following conditions, which intend to avoid further tacit or explicit coordination risks in the consultants’ conducts and investments.
- Third parties will be able to participate in the financing and usage of the transmission line connecting “Proyecto Aysén”’s generation plants and the Central Interconnected System (SIC).
- Resignation or disposal of water rights of the interested parties in the basins of Palena and Aysén rivers, and in the sub-basin of the Ibáñez river.
- Endesa and Colbún must present the energy and power sales contracts between them and “Proyecto Aysén” to the National Prosecutor’s Office for approval.
“Proyecto Aysén” shall remain as an open corporation, or a closed corporation subject to the rules of open corporations, as long as the consultants maintain shares in it.