Peru’s Ministerio de Energia y Minas has granted a concession to Electropampas S.A. to study development of a four-plant, 1,204.36-MW Pampas Verdes hydroelectric complex on the Caracha and Urubamba rivers in Peru’s Ayacucho Department.
Peru’s Andina news service said the temporary concession grants Electropampas 24 months to carry out feasibility studies of the estimated US$1.2 billion complex.
The developer is required to respect regulatory standards and security, preserving the environment and cultural resources.
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, 156.6-MW Tinyapay, 195.69-MW Jarhuac, 503.6-MW Pilca, and 348.47-MW La Capilla. (HNN 1/4/08)
Participants in Electropampas include investment fund Pennyvest, the Cenec group of Brazil, and engineering group Camargo Correa.
Pennyvest President Carlos Penny previously said a master plan is to be drafted for development of the complex in several stages over at least five years.
Electropampas investors sought 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.