PCHS Los Molinos

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In January 2011, PCHS Los Molinos SAS ESP, a subsidiary of the Panamanian company Latin American Renewable Energy Income Fund LAREIF I, S de RL (itself a joint-venture of the Canadian Century Energy Corporation and the American Cornerstone Group), was granted the right to build and operate two 19.9-MW run-of-river small hydro power plants located in the San Matias River, Department of Antioquia. The sponsor committed to start supplying all its power to the national grid in 2016 through a connection with Empresa Publica de Medellin (EPM)'s network. The power plants were named PCH El Molino and PCH San Matias. The sponsor committed to invest US$ 125 million in the construction of the power plants. The Colombian company HMV Ingenieros agreed to undertake the EPC works, while Voith Hydro signed a contract in 2013 to supply four Francis horizontal turbines and four generators to the project, in addition to governors, automation systems, and engineering, installation and commissioning supervision services for El Molino and San Matias. The environmental licenses were issued in August and September 2012. Construction started in early 2013. In March 2014, the IIC approved a US$ 12 million loan to the project. Also in 2014, OPIC approved a US$ 50 million loan.