+44 207 394 30 90 (London)

ENGLISH

ESPAñOL

Odebrecht to sell Peru hydroelectric plant to Chinese consortium

Main » News » Odebrecht to sell Peru hydroelectric plant to…

A state-owned Chinese consortium has agreed to buy Peru’s Chaglla hydroelectric plant from Brazilian builder Odebrecht SA.

The consortium, led by Three Gorges Corp, has agreed to pay at least $618 million for the hydroelectric plant.

According to Peru’s Justice Minister Vicente Zeballos, Odebrecht will turn over half the sale price agreed upon with the Chinese consortium to cover reparations in a long-running corruption case.

The Chinese consortium also agreed to pay off Odebrecht’s debt to the firms that originally financed the construction of the hydro plant, which would bring the totals investment to $1.39 billion.

Zeballos said Odebrecht would be required to deposit half the $618 million it gets from the sale into a “trust overseen by Peru’s Banco de la Nacion to be used exclusively to pay suppliers and debt.”

The sale of the 456-megawatt hydropower facility, Peru’s third largest, must still be approved by the Economy Ministry and the Energy and Mining Ministry, as well as the state-run power company Electroperu.

The deal is China Three Gorges’ first venture in Peru as the presence of Chinese companies grows in Latin America.

The Chaglla hydro project is a critical supply of power for Peru’s mining industry in the country´s northern Andean mountain region.

Source: https://www.powertransformernews.com

MORE

Bolivia reactivates hydroelectric early stage

Source: Bnamericas July 30, 2019 Bolivia’s plans to harness the energy potential of the Rio Grande basin continue despite community opposition and skepticism about the viability of an export-oriented development project. The government roadmap for the basin provides for a cascading system of seven plants: Seripona, Cañahuecal, Las Juntas, Ocampo, Peña Blanca, La Pesca and…


Ecuador seeks US $ 400 million to build alternative energy projects

Source: Larepublica July 30, 2019 Ecuador seeks private investment of about US $ 400 million for the development of unconventional electric power projects with a combined capacity of 310 megawatts, as part of an ambitious plan to change its energy matrix. In the first months of 2020, the Government will launch a tender for the…


Argentina awarded 38 projects and promise investments of US $ 368 million

Source: Lanacion.ar August 5, 2019 The Government awarded 38 renewable energy projects, for a capacity of 259.08 MW under the third round of the RenovAr program. These projects will require investments of US $ 368 million and will generate approximately more than 1000 new jobs between construction, operation and maintenance. In total, the awards will…