Santo Domingo de los Olleros TPP (Phase I)

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On January 4, 2010, Peru's ministry of energy and mines (MEM)authorized Termochilca to build, own, operate the 196 MW Santo Domingo de los Olleros Thermoelectric Power Plant in the Chilca district south of Lima. The plant was to be expanded in two additional phases to bring total capacity up to 600 MW through additional turbines and closing the cycle. The plant was to be built 60 km south of Lima, in the Chilca district, and use natural gas from the Camisea gas field. Termochilca was being developed by AME , but was wholly owned by Americas Energy Fund 1, a fund incorporated in Canada, but jointly managed by Chilean sponsors SCL Energía (50%) and Larrain Vial (50%). AME had an option to purchase up to 15% of the Termochilca project, which could be exercised during the first year of construction of the plant. In 2011, Termochilca awarded Siemens Energy a turnkey EPC contract for the plant. The order volume is around US$80mn and includes the supply of a SGT6-5000F gas turbine and SGEN6-1000A electric generator The total project cost was US $128.4 million. In December 2011, Termochilca signed a US$83.5 million, medium term debt agreement with Scotiabank. The debt to equity ratio was approximately 65:35. In 2012, CAF approved a credit guarantee for the project debt The project was expected to become operational in September 2013. Commercial operations commenced in October 2013.