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EcoSecurities advises Pacific Hydro on the development of the first hydroelectric CDM project to be registered in Chile
Source: EcoSecurities Group plc
EcoSecurities Group plc, one of the world’s leading originators, implementers and commercialisers of carbon credits advised Pacific Hydro Limited with regards to the development of the first hydro CDM project to be registered in Chile, and the second biggest run-of-the-river project ever built in the country.
The La Higuera project is a 155MW hydroelectricity project near San Fernando, Chile which is being developed as a joint venture between Pacific Hydro Chile S.A. and Statkraft Norfund Power Invest (SNPI). Consisting of a run-of-river scheme, and featuring a diversion canal and weir, tunnel and intakes from the Azufre and Tinguirica rivers which rise in the Andes Mountains, the project is expected to generate 834.7 GWh per year , leading to an estimated 470,000 tonnes of CO2 emissions reductions per year.
Dr Pedro Moura Costa, EcoSecurities’ COO and President, stated “Working on such a ground breaking endeavour has made this an exciting project for EcoSecurities to be involved in. Hydroelectricity forms a large percentage of the Chilean CDM pipeline and as such La Higuera is pioneering the development of large CDM projects in the country'.
Moura Costa goes on to add ”As Chile’s electricity demand continues to increase annually, projects such as La Higuera with its 155MW of installed run-of-the-river capacity will be of strategic importance nationally, conciliating large scale generation within a sound environmental framework”.
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