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Caleta Cruz Thermal Plant

Sector: Commercial • Location: Tumbes, Peru

Source: World Bank Group

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Caleta Cruz was a 150MW thermoelectric project in the province of Tumbes in northern Peru developed by BPZ Energy. The project was designed to be fired by gas from BPZ’s Corvina gas field in block Z-1, using two 7-single cycle gas fired turbines. The project included building a 16km pipeline to transport gas from the field to the thermal plant. In August 2005, BPZ announced it had signed a 90MW 1

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The project “Caleta Cruz Thermal Plant” is an infrastructure initiative in the Commercial sector, located in Tumbes, Peru. Taiyo aggregates data on it from World Bank Group.

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Description

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Caleta Cruz was a 150MW thermoelectric project in the province of Tumbes in northern Peru developed by BPZ Energy. The project was designed to be fired by gas from BPZ’s Corvina gas field in block Z-1, using two 7-single cycle gas fired turbines. The project included building a 16km pipeline to transport gas from the field to the thermal plant. In August 2005, BPZ announced it had signed a 90MW 10 year take-or-pay contract starting January 2007 with distributor Luz del Sur SA. The power purchase agreement had an option to be extended by 20MW at a later unspecified date. The project cost was estimated at US$100 million. In May 2005, BPZ signed a mandate letter with the International Finance Corporation to finance up to US$70 million. In addition, BPZ has raised a total of US$34.4 million from a private placement in the US market of 11.5 million ordinary shares at US$3 per share.

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