Termopaipa IV Power Plant

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This is a 165-MW power plant project. It was developed by Compania Electrica de Sochagota, a subsidiary of Steag AG. The project was awarded by Corelca (Colombia's state owned electricity utility) to Consorcio Colombiano Industrial (CCI) and Steag AG. CCI later sold its stake in the project to Steag AG. The project contract project stipulated that all electrical output from Termopaipa IV was to be sold purchased under a 15-year power purchase agreement with Corelca. The total cost of the project was around $200 million. In 2006, STEAG sold 24.5% of its shares of Compania Electrica de Sochagota (CES) to Valorem and an additional 24.5% of its shares to Invernac & CIA S.C.A. STEAG retained the remaining 51% of its shares. The project was still operational in 2010 after the PPA expired see http://www.steag.com/termopapia+M52087573ab0.html