Brazil firms to double investment in Peru’s 2,500-MW Inambari

Brazilian construction company OAS says studies show Peru’s proposed 1,500-MW Inambari hydroelectric project can be increased in size to 2,500 MW, prompting the development consortium to double its proposed investment to US$5 billion.

OAS Regional Manager Silmar Conde de Paiva told Peru’s state-run Andina news service that pre-feasibility studies, which began in June, have shown excellent hydrographic conditions for Inambari, to be built in Peru’s Madre de Dios Department.

Peru’s Ministerio de Energia y Minas granted a 24-month study concession in June to a group including OAS and Brazil federal utilities Furnas Centrais Eletricas S.A. and Centrais Eletricas Brasileiras S/A (Eletrobras). (HNN 6/23/08)

“Initially we believed that the power would be 1,400 MW, but studies have shown that there is potential for much more, so the investment will be increased to US$5 billion,” Conde de Paiva said.

The OAS official said the Brazilian firms are working the complete the first phase of feasibility studies, with plans to complete the second and third phases for delivery to the Ministerio de Energia y Minas in four or five months. The firms then hope to receive a final grant to develop the project, with construction to begin by mid-2009.

Conde de Paiva said talks already have begun with Brazil’s development bank, Banco Nacional de Desenvolvimento Economica e Social (BNDES), and other potential investors to obtain financing for Inambari.

To be built 300 kilometers from the Brazil border on the borders of Peru’s Puno, Cusco, and Madre de Dios departments, Inambari is proposed as the first project of energy integration between Peru and Brazil. The governments of Brazil and Peru agreed in May to build the project in Peru with plans to export electricity to northern Brazil. Additionally, Eletrobras has proposed concessions to study five more Peru hydro projects. (HNN 8/12/08)

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