Peru’s $438 M hydroelectric BOT project signed

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Peru’s $438 M hydroelectric BOT project signed

Peru's private investment promotion agency, ProInversión, San Gabán S.A. and Hydro Global Peru S.A.C., a consortium made up China Three Gorges Corporation and EDP – Energías de Portugal, have signed the contract to develop the San Gabán III hydroelectric power plant. 

The project involves the design, finance, build, operation and maintenance of a new 205.8 MW power plant. It also includes the development of a 220 kv line to connect the plant to an electrical substation, which is expected to be either Onocora substation or Azángaro substation.

The concession contract will be for a period of 30 years plus 84 months to develop the project and the total project investment is estimated at US$438 million.

​The process to develop the new facility was initiated after Proinversión received a private initiative proposal from Hydro Global. In early 2016, Proinversión launched a request for expression of interest (RFEOI) for the project, at that time requisites for potential developers included: balance sheet with assets of more than US$600 million and experience developing hydroelectric assets of more than 350 MW.

In late February, we reported that Peru's energy and mining regulator Osinergmin awarded 20-year contracts to 13 renewables projects totaling 430 MW, covering almost 100% of the electricity on offer. Enel Green Power (EGP) was awarded the right to sign 20-year energy supply contracts for 126 MW wind power, 180 MW solar PV and 20 MW of hydro capacity.

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.