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Chile power auction attracts 24 bids: official
October 11, 2017 / 8:18 PM / 5 days ago

Chile power auction attracts 24 bids: official

SANTIAGO (Reuters) - A Chilean power auction attracted 24 bids, including several from European renewable energy firms, to supply the country with 2,200 gigawatts per hour annually for two decades beginning in 2024, a government official said on Wednesday.

Bidders included Spanish firms Acciona SA (ANA.MC), Cox Energy and Ibereolica, as well as Italian utility Enel (ENEI.MI) and several Chilean energy companies. Offers also included several wind and solar projects.

The winners will be revealed on Nov. 3.

Results of the tender will be closely watched following the country’s largest-ever power auction last year, in which wind and solar companies offered record low bids and won the right to supply millions of Chileans with power for 20 years beginning in 2021.

The average winning price in the massive 2016 auction was $47.6 per megawatt hour, well below market expectations.

Chile’s National Energy Commission executive secretary, Andres Romero, told reporters that aggressive bidding this time around could help assure equally competitive prices for Chilean consumers.

“We will likely (receive tenders) for 10 times the quantity of energy that’s been offered,” he said.

Reporting by Fabian Cambero; Writing by Dave Sherwood; Editing by Jonathan Oatis

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