Isagen to spend US202 million on Sogamoso hydro project mitigation projects in Colombia

Colombian state generator Isagen will invest a total of US202 million on four mitigation projects relating to its 820-MW Sogamoso dam and hydropower project, the company said in a statement.

Works covered by the environmental management plan include the re-housing of 160 families, which is planned to take 900 days to complete, Business News Americas reported.

The generator will also rebuild roads displaced by the project and will replace Gomez bridge, reports indicate.

The Sogamoso hydro project is due to begin commercial operations toward the end of 2014. The project’s total cost is estimated at US1.74 billion, reports indicate.

Isagen recently completed a process to acquire 101 billion pesos (US53 million) in financing to help fund construction of the Sogamoso hydropower project.

The financing comes in the form of two 15 year credit notes from financial institution Bancolombia, Business News Americas reported.

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