Colombian utility cleared to issue bonds for Sogamoso project

Colombia’s Finance Ministry has authorized state-owned Isagen S.A. to issue US$425 million in bonds to help finance the company’s 820-MW Sogamoso hydropower plant, according to papers filed with securities regulator Superfinanciera.

Isagen now has about 1.83 GW of hydropower capacity.

Isagen approved plans in June 2008 to build the US$1.3 billion project over ten years. Isagen purchased the rights to develop Sogamoso in 2007 from Electrificadora de Santander S.A. for US$12 million.

Russian power plant builder Technopromexport is participating in the construction of Sogamoso. (HydroWorld 11/28/08) Sogamoso, on Colombia’s Sogamoso River, will include a 190-meter-tall, 345-meter-long dam and an underground powerhouse containing three vertical Francis turbines.

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