Termotasajero

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This is a 163-MW power plant located in Northern Santander Region. The project was partially privatized in December 1996 when 57% of the project was sold for $19 million to industry workers through a special participation program that encourages local individuals to become shareholders. The remaining 43% will be offered to private investors. In 1999, MIGA issued an US$ 62.4 million guarantee to the project sponsor. By 2006, Conduit owned 80% of the shares. In 2007, Conduit sold its shares in Termotasajero to the company Colgener, a partnership of Chilean and Colombian investors. The sponsors began investing in another coal-fired power plant in 2012 (160 MW). As of October 2014, 82% of the construction works were complete. The project, named Termotasajero 2 (located near Termotasajero 1), demanded US$ 350 million in investment. Hyundai was hired as the EPC company, and operations on this new unit were set to commence in 2015.