News Headline Summary

Enel (ENEL IM) shares down almost 5% and Enel Green Power shares failed to open on time at 0800BST, as market participants react to press reports that Chilean presidential favorite Bachelet is against the planned 2,750-megawatt HidroAysen project...

Analysis details (14:20)

- Of note, HidroAysén is owned by a corporation which is a joint venture between Endesa (a subsidiary of Italian conglomerate ENEL), with a 51% stake and by Colbún S.A. which owns the other 49%.
- Chile's supreme court approved HidroAysen's five generating units, but environmentalists then brought the project to a special ministerial group for review.
- HidroAysen, whose generating units alone were initially seen costing USD 3.2bln, is now expected to require over USD 8bln in investment, considering the transmission line, according to industry analysts.

24 Jun 2013 - 14:16 - - Source: RANsquawk

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