Chile’s power plant is licensed to operate Del $ 20 million. Ch. 11 Loan

By Jeff Montgomery (Nov. 22, 2021, 5:10 p.m. EST) – Bankrupt Chilean hydroelectric company Alto Maipo SpA on Monday obtained approval from a Delaware judge for provisional access to as much as $ 20 million on a $ 50 million debtor-in-operator loan earmarked for the $ 2.5 billion hydropower project threatened by declining Andean flows.

US bankruptcy judge Karen B. Owens cleared with a few questions Alto Maipo’s initial access to the DIP loan provided by Alto Maipo parent company AES Andes SpA, a subsidiary of Virginia-based global electricity supplier AES Corp.

Luke A. Barefoot of Cleary Gottlieb Steen & Hamilton LLP, counsel for the debtors, told the judge that no other lender would offer or accept …

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