Oxec Hydro Power Complex

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In August 2013, the federal government awarded Hidroelectrica Oxec S.A. the 50-year licence to build and operate a 25.5 MW hydro power plant located at the Oxec River, municipality of Cahabon, Alta Verapaz. Oxec S.A. is a wholly-owned company of the Costa Rican Grupo Saret. The power plant was named Central Oxec I. No information was available on the investment or on the date the construction works started. As of March 2015, the construction works were in its final stages, and operations were set to commence in May 2015. Oxec I was granted a long-term power purchase contract to sell its output to electricity distribution companies. In March 2015, Oxec was granted an additional 50-year licence to build and operate another power unit with 45 MW in capacity, named Central Oxec II. The actual investment information was unavailable and hence an estimate has been made basis USD 1.3 million per MW construction cost for hydro power.