Red de Energia del Peru

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Colombia's state owned Interconexion Electrica SA (ISA) won the auction for Peruvian electricity transmission companies Etecen and Etesur. ISA paid $621 million for the pair of transmission companies. Spain's Red Electrica and Canada's Hydro Quebec failed to bid. Upon winning the rights to the companies ISA created the new project company named Red de Energia del Peru. Red de Energia del Peru had a concession contract for a period of 30 years. The REP's network links electricity transmission from northern to southern Peru. In 2003 REP awareded a turnkey contract to a consortium of Columbia's Electrica de Medellin and Peru's Proansa to build part of REP's transmission line linking Peru and Ecuador. Construction on the line from Zorritos, Peru to the border of Ecuador was expected to start in January 2004 and conclude in September 2004 (later delayed until early 2005). Financing for the line will be split by REP and Transelectric, Ecuador's state transmission company. REP's investment is part of their original contract signed with the Peruvian government. http://www1.ifc.org/ar2002/pdf/FY2002Commitments.pdf REP has a capex program every two years, it can and has had capex above the requirements of the program.