Red Electrica del Sur

active

The government in January 1999 awarded to Red Electrica del Sur the 32-year concession to build and operate three 220-kV transmission lines in southern Peru. Red Electrica must strengthen the second circuit of the 220 kW Socabaya Moquegua power line and balance the Maquegua-Puno and Moquegua-Tacna lines so they can be intergrated in the same circuit. Red Electrica del Dur is a consortium comprised of Red Electrica de Espana (25 percent), Cobra Peru (20 percent), Abengoa Peru (20 percent), Banco Hispano Americano (15 percent) and Peruvian government investment agency Proinversion (15 percent). In 2004 the Peruvian government announced the release of their 15 percent share - a bid of US$5.35 million was set forth by investment fund AC Capitales. The investment fund was formed by three pension funds: Integra, Profuturo, and Horizonte. Clearance of the sell was not expected until early 2005. Redesur will invest nearly $75-million to set up a 445-km transmission line over 42 months. By February 2000, the first phase was expected to start operations between Arequipa and Moquegua by which time the 32-year duration of the concession will commence. This contract includes a period of two years for the construction of 444 km of 220 kV lines and four substations. In Dec. 2000, the IADB approved a US$ 53 million financing package to finance the construction works. The sell of 15% stake of the govenment in the company in Dec 2004 needs to be added. See electronic filing system. None