Codelco delays Coya, Pangal bid deadline to Oct.16

The El Teniente division of Chile's state copper corporation Codelco has delayed the deadline to submit bids for its Coya and Pangal hydroelectric plants after the eight companies that bought bid rules requested more time, Codelco spokesperson Rodrigo Rivas told BNamericas. Bids should now be submitted through October 16, instead of by September 29. Codelco will now award the winning bid in early November. Codelco is selling the plants and water rights to the Cachapoal river as part of its strategy to divest non-core assets. Coya and Pangal, with 39.3MW and 37MW installed capacity respectively, currently supply about 35% of El Teniente's 400MW electricity needs, which Codelco will replace by buying 100% of its power from the central grid (SIC), up from the 320MW it currently buys.