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InvestChile director meets with representatives of China Three Gorges energy giant

CTG is the world’s largest hydroelectric operator and one of its largest energy companies. It entered the Chilean market in May 2018 through the acquisition of Atiaia Energía, which forms part of Brazil’s Cornélio Brennan Group.

China Three Gorges Corporation (CTG) is the world’s largest hydroelectric operator and one of its largest energy companies. It entered the Chilean market in May 2018 through the acquisition of Atiaia Energía, which forms part of Brazil’s Cornélio Brennan Group.

However, the history of its arrival in Chile dates back to 2014 when InvestChile contacted a subsidiary of CTG, China International Water and Electric Corporation (CWE). Since then, Chile’s Foreign Investment Promotion Agency has been in constant contact with the company.

This week, a delegation of five persons, led by Li Xiufeng, CTG’s deputy director of marketing, met with InvestChile’s acting director, Ian Frederick, who was accompanied by the executives in charge of the energy sector, Jorge Yáñez and Alicia Zhu. At the meeting, they discussed the progress achieved in recent years on CTG’s installation in Chile.

In Chile, CTG has two hydroelectric projects: Rucalhue, with a capacity of 90 MW, in the Biobío Region, which represents an investment of US$240 million, and the 101-MW Río Bueno project in the Los Ríos Region.

“Chinese companies have an extremely positive perception of Chile. A few years ago, they knew little about the country. Now they recognize its economic and political stability and show a lot of interest in investing in all the region,” said the acting director of InvestChile.

Jorge Yáñez, the Agency’s investment promotion executive for the energy sector, added that InvestChile has been in contact with CTG and supporting it for several years. “Since 2014, we have had numerous meetings with the company and its executives, supporting its process of installation with information, invitations to international investment seminars and scheduling and accompanying the company to meetings with other organizations such as the Economy Ministry’s Office for Sustainable Projects, the Energy Ministry, the National Energy Commission and the National Electricity Coordinator,” he reported.

It is important to note that InvestChile has Chinese personnel able to provide specific information about different sectors and help companies organize meetings with the leading players of the industries in which they are interested.

In China, CTG built and operates the 22.5-GW Three Gorges hydroelectric plant. It has 70 GW of installed capacity and this increases to 124 GW if plants under construction and CTG’s stakes in other companies are included. The company has invested in and developed projects in over 40 countries in Europe, Africa, the Americas and Southeast Asia. In Latin America, it is present in Brazil, Chile, Peru, Ecuador, Colombia, and Bolivia.