US$1.4 billion to raise for the Ituango hydroelectric plant

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Empresas Publicas de Medellin (EPM) in Colombia is planning to raise up to US$1.4 billion from asset sales in order to financially support the 2.4 GW Ituango hydro project, whose contruction is paralized due to several landslides  happened in late April 2018.

Located on the Cauca River, which flows through northwestern Colombia, the Ituango hydro project is considered to be the country’s largest hydroelectric facility. It is expected to generate approximately 13,900 GWh of renewable electricity per year.

10% stake of the planned US$1.4 billion amount will come from power transmission company ISA and Davivienda. EPM is also considering to sell the Aguas de Antofagasta water company and the Cururos wind farm.

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