Peru developer advances four-plant, 960-MW Pampas Verdes

Peru developer Electropampas S.A. is studying development of a four-plant, 960-MW Pampas Verdes hydroelectric complex on the Caracha and Urubamba rivers in Peru’s Ayacucho Department.

President Carlos Penny of investment fund Pennyvest, a partner in Electropampas, told Peru’s Diario Gestion that evaluation of eight years of project data could be completed by the end of January, or by the end of the first quarter of 2008 at the latest.

He said results would be used to help win support of Peru’s Ministerio de Energia y Minas to declare the US$1.2 billion complex a national priority.

Other participants in Electropampas include the Cenec group of Brazil and engineering group Camargo Correa.

Pampas Verdes includes the construction of two dams to divert water through two transAndean tunnels from the Atlantic catchment to the Pacific. Four hydropower plants would be constructed, 140-MW Tinyapay, 170-MW Jarhuac, 450-MW Pilca, and 200-MW La Capilla.

Penny said a master plan is to be drafted for development of the complex in several stages over at least five years.

In the next six months, Electropampas’ investors plan to seek funding from financial institutions such as Brazil’s national development bank, Banco Nacional de Desenvolvimento Economico e Social; Inter-American Development Bank; and the World Bank’s International Finance Corp.

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