Colbun, the second largest power generation group in Chile (3.9 GW in 2019), plans to invest US$1bn by 2022, in order to add around 4 GW of renewable power capacity - it would double its current power capacity - and to meet its power supply commitments. Indeed, the group won a power supply contract in October 2019, committing to supply 3 TWh/year to the mining operations of BHP, Escondida and Spence as of 2022.
Most of this amount will be dedicated to the construction of the 607 MW Horizon wind project that should generate 2 TWh/year of electricity. The project was awarded to Colbun on the basis of a 30-year concession in September 2017 and will be one of the largest wind project in the country when commissioned (expected in late 2024). The wind project will be submitted for environmental evaluation in January 2020.
Colbun plans to complete the BHP requirement from at least three alternative solar PV projects (200 to 400 MW) and is already developing the 170 MW San Pedro hydropower project and another 400 MW run-of-river project.