About

After eight years litigating in civil and criminal matters in Chile, Diego Corp Hoces de la Guardia realised that he was capable of helping clients unlock the value of infrastructure projects in early stages of development. ‘That [realisation] motivated me to accept the challenge of joining a start-up, HydroChile’, he says. HydroChile was established in 2007 to develop and operate hydroelectric power generation projects in Chile. In his role as general counsel and director of technical services of HydroChile, Corp helped build the business, including the acquisition of water rights, the development of the engineering project, the environmental permitting, the debt and equity financing, the construction and finally the launch of operations for two hydropower run-of-river generation assets with a total installed capacity of 100MW. His team of direct reports includes professionals from various backgrounds and technical expertise: corporate law, contracts, resources, health, safety, environmental, and community relations, among others. On describing the challenge of setting up HydroChile, Corp says that, ‘setting the basis for a business, while simultaneously articulating long-term strategic goals with short-term problem solving, require a whole new level of focus and commitment. I have to admit that learning to find the right balance between business priorities, technical rigour and fast-paced decision-making instances have challenged me and helped me grow as a corporate lawyer’. Corp ensured that the legal department he designed and led was conceived with enough flexibility to adapt and manage risks that are unique to each one of the different stages of project development, as well as the ever-changing legal and regulatory environment of the power sector in Chile. ‘Developing a project, a facility that will eventually become a company on its own merits is only possible with a very clear three to five-year roadmap and precision in the execution. You need to be able to see the big picture, anticipate and not forget your long-term goals, not to be blinded by daily details but also not neglecting them either, as your company will also live or die by them’, he says. Having overcome the initial challenge of sourcing the ‘intensive equity’ required for Non-Conventional Renewable Energy (ERNC), Corp helped secure all concessions, permits and operational agreements, as well as accessing the international and domestic financial markets to successfully obtain non-recourse project finance. Corp says the current challenge for the company is operating its first ERNC facilities from deep in the Andes Mountains.