Las Pizarras Small Hydro Power Plant

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In November 2008, Energie Baden-Wurttemberg AG – EnBW and ALUZ C&O Peru S.A.C. (hereafter referred to as Aluz) were awarded the contract to build and operate the 18-MW hydro power plant located at Cajamarca, Santa Cruz. The bidding criteria was the lowest tariff, and of the 17 proposals for the construction of hydro power plants only two proposas were accepted (for the Las Pizarras power plant and for the Chancay power plant). In 2011, EnBW and ALUZ sold their shares in the project to the Spanish firm Alarde Sociedad de la Energia S.A. The special purpose company Electrica Rio Doble S.A. was created to lead the project. The concession contract was established for a duration of 20 years plus the construction time. The investment in the project was estimated at US$ 39.6 million. In June 2011, the project company applied for carbon credits. Commercial operations commenced in April 2013.