Energía Austral is an electricity generation project located in the Aysén Region of southern Chile with the potential to generate more than 1,000 MW to feed the Central Interconnected Grid.

Development would involve the construction of three hydroelectric dams, Cuervo, Blanco and Cóndor, and a transmission line. The environmental and social impact assessment (ESIA) for the Cuervo facility was approved by the Chilean environmental authorities in May 2012.

The ESIA study for the Blanco facility is expected to be submitted in 2012 with ESIAs for the Cóndor facility and the transmission line to follow.

In April 2012 Xstrata Copper and Origin Energy Limited (Origin) completed a transaction under which Origin has acquired a 51% interest in Xstrata Copper’s Energía Austral hydroelectric development company, with Xstrata Copper retaining a 49% stake.