UPDATE – Tendering imminent to expand 107-MW Machu Picchu

Peru Energy and Mines Minister Juan Valdivia said June 25 that generator Empresa de Generacion Electrica Machupicchu S.A. (Egemsa) would call within 15 days for bids to expand the 107-MW Machu Picchu hydroelectric project to 206 MW.

In a statement released by Peru’s business financing fund, Fondo Nacional de Financiamiento de la Actividad Empresarial del Estado (Fonafe), Valdivia said construction of the second phase of Machu Picchu would require three years.

Egemsa President Victor Tomaylla said earlier this month that the company would invest US$115 million in the expansion program. (HNN 6/3/08) In another statement from Fonafe, Egemsa’s controller, Tomaylla said Peru’s Ministerio de Energia y Minas approved project construction.

Tomaylla also said bidding is under way to build the first stage of the 129-MW Santa Teresa hydroelectric project, 3.8 kilometers downstream from Machu Picchu.

For information, contact Empresa de Generacion Electrica Machupicchu S.A., Avda. Machupicchu s/n, Central Termica Dolorespata, Cusco, Peru; (51) 84-233719; Fax: (51) 84-238950; E-mail: egemsa@egemsa.com.pe; Internet: www.egemsa.com.pe.

Peru to promote international investment in hydro

Valdivia said financing for hydro projects such as Machu Picchu is being implemented by the government in the short term.

For the long term, the minister said his office is evaluating a package of measures to promote the construction of hydropower projects within the framework of implementing a free trade agreement with the United States.

Valdivia said in the past year has office has been evaluating the promotion of hydropower stations considering that their development requires a greater investment than natural gas-fired power plants.

The minister also said his agency this week will provide Peru’s private investment agency, Agencia de Promocion de la Inversion Privada (ProInversion), a list of 15 hydroelectric projects.

He said the hydro projects will be referred to ProInversion so studies can be undertaken to determine their potential in preparation for concession offerings.

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