OeEB signed a risk participation for a long-term credit line of Deutsche Investitions- und Entwicklungsgesellschaft DEG for the construction of two small hydropower plants in Peru. Besides DEG and OeEB, Dutch development bank FMO and Peruvian development bank COFIDE participated in the financing.
The two small hydropower plants 8 de Agosto (19 MW) and El Carmen (8.4 MW) will be constructed in the Monzón Valley in Peru, approximately 540 km northeast of Lima, and are expected to produce 130 respectively 47 GWh of electricity per year. The power plants will be connected to the power grid via a 60 km long transmission line.
The construction of the power plants helps expand the energy supply in the fields of renewable energy and to make better use of the existing hydropower potential. This contributes to covering the rising energy demand and to reduce the country’s dependence on fossil fuels. Moreover, the stability of the energy supply will be improved and capacity bottlenecks will be prevented.