Fresh challenges to the EIS submitted by the HidroAysén JV developing the US$3.2bn hydro project in southern Chile's Aysén region should have little impact on shares of the two generators that control the JV, Endesa Chile and Colbún.
"From my point of view, the project has yet to be incorporated into the companies' evaluations," Tomas Gonzalez, a power sector analyst with Celfín Capital, told BNamericas. "I think the project is ultimately going to go through. There has been a lot of noise surrounding the environmental issues, but that's natural."
Chile's local press was full of speculation HidroAysén would withdraw the EIS it submitted in August after environmental minister Ana Lya Uriarte said over the weekend she believed the company did not have enough time to respond to the more than 3,000 questions submitted in the first phase of review.
Companies traditionally have five days to respond to the initial observations but can request to have the timeframe extended.
Chile's La Tercera newspaper reported the company would withdraw the EIS, citing sources within Endesa and Colbún. Other local press, however, reported the company would be granted an extension that would allow the JV to respond to each question by the end of the first quarter next year.
Officials from HidroAysén could not immediately comment when contacted by BNamericas. Conama said it would give the JV time to respond to questions about the EIS.
Officials at the local Aysén government office could not comment on the story because of a government strike Tuesday.
EIS TROUBLES
The confusion surrounding the status of the EIS is the latest setback to the 2.75GW project.
Chile's water authority (DGA) in early November denied a request submitted by HidroAysén for additional water rights needed after the planned flood surfaces for the five dams were reduced.
HidroAysén has suggested it may be able to appeal the ruling. The water rights would also only be needed to operate the dams and are unrelated to the environmental review process underway.
Chile's forestry service Conaf, the first of 36 agencies to comment on the impact study, has also said the project is incompatible with existing laws.
Referring to the Conaf report, HidroAysén CEO Hernán Salazar said in mid-October the JV would wait to receive observations from other agencies before commenting further. Each of the required agencies must submit a report on the EIS before environmental regulator Conama votes to approve or reject the EIS.
PUBLIC PERCEPTION
A poll conducted by Chilean polling firm Adimark during October found 51% of Chileans were in favor of the project, according to a statement released by HidroAysén.
Those opposed to the project, meanwhile, accounted for 29% of the survey respondents and 20% had no opinion on the issue.
Fifty-eight percent of respondents agreed HidroAysén would contribute to Chile's energy independence, while 30% of respondents disagreed. Only 53% said they had heard about the project, according to the statement.
A total of 1,020 people were interviewed for the survey with 618 respondents located outside of Santiago.
Environmentalists have protested the HidroAysén project and object to a 2,000km transmission line that would connect to Chile's central SIC grid, arguing the works would do irreparable harm to pristine lands in Patagonia.
HidroAysén argues the US$3.2bn project is fundamental to Chile's energy independence and that it will save millions of dollars in reduced energy imports annually.
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