San Marcos Thermal Power Plant

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A consortium of Duke (38%), Petrobras (21%), Monteiro Aranha (18%), Emprese Electrica Corani (17%) and CRE (Cooperativa Rural de Electrificacion) (6%) is constructing a 110-MW natural gas fired power plant at Puerto Suarez. The construction works on the new thermal power plant started in Dec. 2000 and should be completed by the end of 2001. Almost all of the plant's output will be exported to Corumba (Brazil) through a transmission line in the region. The electricity will be used in a new iron production complex to be set up at Corumba. In 2003 Monteiro Aranha and CRE transferred their shares to the other three shareholders whereby the new ownership structure was Duke (49%), Petrobras (27%), and Corani (24%). Empresa Corani is an electricy distributor that was 50 percent divested - Duke Energy holds a 50 percent share in Corani (therefore Duke's total share is 61 percent, by direct investment 49 percent and indirect investment through Corani of 12 percent). None None