Hydro developer La Empresa de Generacion Electrica Quitaracsa (EGEQ) says it is investing US$123 million in development of the 114-MW Quitaracsa hydroelectric project on Peru’s Quitaracsa River.
Peru’s Ministerio de Energia y Minas granted EGEQ a concession July 29 to study two possible transmission line routes for the project in Ancash Department. Peru’s Andina agency said the company is to select between two transmission routes, 85.1-kilometer Quitaracsa 1-Chimbote 1 or Quitaracsa 1-Chimbote 1-Chimbote 2, which is 9.72 kilometers longer.
Quitaracsa has as stockholders EZ Consultores del Peru and Grupo ControlSud, which is in charge of financial structure of the project and is contributing 100 percent of the investment. EGEQ signed a financing agreement in July with ControlSud in the presence of Energy and Mines Minister Juan Valdivia.
Quitaracsa was one of 328 potential hydroelectric projects totaling 58,937 MW identified by the Ministerio de Energia y Minas in May at the first Congress on Biocombustibles and Renewable Energy. (HNN 5/21/07) Preliminary work on the project, including construction of access to the power station site, is to begin in 60 days. Completion is expected in 2010.