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Owners ask to cancel sale

Former owners of the Pullinque hydroelectric power plant in Chile have asked a court to cancel the plant’s sale. The hydro plant located in the southern Tenth region has an installed capacity of 48.6MW. The plant’s owner, a local independent power producer, has also claimed that unreasonably high interest rates led to the accumulation of debt that caused its cash crisis.

The proposed minimum price for the plant is US$39M. Pullinque owes the state-owned bank Banco del Estado over US$45M and privately owned Banco Santander Chile about US$12M.