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.
Epsa, througha green bond program, will issue up to COP$420 billion (US$140 million). The program is backed by the International Finance Corporation (IFC), and Financiera de Desarrollo Nacional (FDN),...
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Enertis will oversee the construction of the project. It will verify the material and equipment supplies for the plant and supervise the engineering, electric, civil, health and security aspects during the construction and commissioning of the solar plant
Soltec Renewable Energie will deliver trackers for the solar project. The project is expected to be operational by the end of 2018
Construction of the project has been postponed indefinitely following a series of landslides at the site. Ituango was expected to begin operating in December 2018 and be supplying more than 17% of the...
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