June 5, 2012 / 10:07 PM / 6 years ago

Chile's Colbun says has no plans to sell stake in HidroAysen

SANTIAGO (Reuters) - Chile’s Colbun COL.SN said on Tuesday it has no plans to sell part or all of its 49 percent stake in the HidroAysen mega hydropower joint venture project.

The board of Colbun recommended on May 30 holding off submitting an environmental impact study for a transmission line for HidroAysen, saying the country’s regulations need to be cleared up.

The 2,750 megawatt, $3.2 billion HidroAysen project, which Colbun is developing in a joint venture with generator Endesa END.SN, has faced an uphill battle against public opinion, as environmental and social groups in Chile increasingly oppose massive energy projects in the world’s top copper producer.

Reporting by Santiago Newsroom. Writing by Anthony Esposito; Editing by David Gregorio

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