Elecnorte Guajira Transmission Lines

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The project involves design, construction, operation, and maintenance of 138km, 100kv regional transmission line in La Guajira, Colombia for 25 years and the refurbishment of three existing sub-stations. The project includes the construction of two 110kV transmission lines (one of about 76.5 km length between Riohacha and Maicao and another of about 62 km length between Riohacha and Cuestecitas), and the refurbishment of three existing substations at Riohacha, Maicao, and Cuestecitas. The project was awarded via an open tender by Colombian Energy Planning National Authority (UPME) to Elecnorte S.A.S. ESP, an SPV owned by Ashmore Group Plc with 77.6%, and Ashmore Fund’s LP, Neuberger Berman, with 22.4%. Technical Partners, which will have a participation of 0.05%, are Morelco SAS, DV Ingenieria SAS and Enterprise Management Services SAS. Total project cost is estimated at $ 116.7 million. Debt to equity ratio is 75:25. The financing entails an A Loan for $ 12.67 million from IFC, a B/MCPP Loan for up to US$70 million and US$ 29.2 million of equity. Financial close was reached on 25 October 2019. https://disclosures.ifc.org/#/projectDetail/SII/39254