The company, operating in both Australia and Chile, completed an equity fundraising round of US$20M. Its prime investors in the round were Ecofin (25% stake), GLG Partners (new investor) and funds managed by the Tudor Group (increase holding).

As the funding round was oversubscribed, the company said another is planned – for US$50M – later this year.

HydroChile has a portfolio of nine projects with a combined capacity of 199MW to be undertaken through its wholly-owned Chilean subsidiary HydroChile SA. It said 148MW is for new projects and the balance for two signed projects: El Paso (27MW) and San Andres (24MW).

The project range being pursued by the company is 10MW-50MW. The business is led by two of the founders, and former executive directors, of Pacific Hydro.

The funding round was supported by Domain Capital, in Australia, and Independent Capital partners, in London.