SANTIAGO, Sept 17 AES Gener SA, the
Chilean energy company, said it plans to raise up to $450
million in a stock offering as it ratchets up investment in its
power projects near energy-hungry mines.
AES Gener, a locally listed unit of U.S. power group AES
Corp, said on Tuesday it was looking to increase its
investments in projects, including hydropower generator Alto
Maipo and coal-fired thermoelectric plant Cochrane.
Last month, AES sold a 40 percent stake in Alto Maipo to
copper miner Antofagasta Plc, while it agreed on an
Asian-financed loan of up to $1 billion for Cochrane earlier
There is great demand for energy from mining firms in
mineral-rich Chile as companies struggle with high prices,
project setbacks and a creaking grid.
AES, Chile's second-biggest energy generator, called a
shareholder meeting for Oct. 3 to approve the capital raise.