Riverbank Power acquires 50% interest in Chilean small hydro plant

Riverbank Power Corporation, a developer of pumped storage and run-of-river generation assets, has acquired a 50% ownership interest in the 4.2MW Rio Isla run-of-river hydro generation development project in the Los Rios Region in Chile’s Valdivia Province.

Riverbank Power’s partner in the project is Portal Santa Laura Ltda., a Chilean company involved in diverse business sectors.

“After over a year of looking, we are pleased to get started in Chile. We like the compelling fundamentals of the country and believe it to be an important component of our strategy in Latin America,” commented John Douglas, President and CEO of Riverbank. “We found a partner as passionate about sustainable hydro development as we are at Riverbank. Our team looks forward to executing more projects in this attractive area of the Americas.”

The Rio Isla project is expected to be commissioned in 2013.

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