Línea STR Barranquilla

inactive

The UPME STR 02-2019 project (the “Project” or “STR Barranquilla Line”), located in the Caribbean region of Colombia, in the Department of Atlántico, Special Port and Industrial District of Barranquilla and, in a minimal proportion, in the municipality of Soledad, was awarded in 2020 by the Mining and Energy Planning Unit (“UPME”) to the Energía de Colombia STR S.A.S E.S.P consortium (the “Concessionaire” or the “Client”), whose main shareholder is the firm Ortiz Construcciones y Proyectos S.A. with 80% participation, “Fondo para Inversiones en el Exterior” (FIDEX) with 18.62% and “Compañía Española de Financiación del Desarrollo” (COFIDES) with the remaining 1.38%.The general objective of the Project is to guarantee the improvement and reliability in the electrical supply for the Municipalities of Barranquilla and Soledad in the Department of Atlántico, through the design, supply, construction, operation and maintenance of: (i) the Estadio Substation 110 kV; (ii) the expansion and modernization of eight (8) substations and the interconnection of nine (9) substations; (iii) the installation of about twenty-four (24) kilometers of 110kV high voltage underground lines, of which 1.08 kilometers were carried out in the municipality of Soledad; and (iv) the construction of the associated works.The Project formally began the operation phase on November 2nd, 2023 for a period of 25 years, measured from the beginning of operation and after the conclusion of the basic and detailed engineering designs, permit and license procedures, the supply and assembly of equipment, the construction, commissioning and corresponding testing of the works.The Project was originally funded through a medium-term financing structure, and currently its refinancing is being considered. In this context, IDB Invest expects to grant up to COP 200,000 million within the longer-term and less liquid local currency tranche, helping to mobilize resources from local banks and institutional investors