(Adds analyst comment, context)
SANTIAGO, April 1 (Reuters) - Endesa Chile said on Tuesday it will invest $661.5 million to build a 150-megawatt hydropower plant in the south of Chile.
Los Condores is scheduled to come on line at the end of 2018, the company said in a statement to the local regulator.
With world No.1 copper producer Chile on the brink of an energy crunch, Los Condores is poised to inject some much-needed new power into the grid.
“(This is) good news for Endesa Chile and for the electricity system,” said Tomas Gonzalez, energy analyst with BTG Pactual in Santiago. “Los Condores should generate around 750 GWh per year and should provide around US$100 million of additional revenues per year.” (Reporting by Santiago newsroom; Editing by Meredith Mazzilli)