Zapallal-Trujillo Transmission Line

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In June 2009, Proinversion, Peru’s private investment promotion agency, called for tenders for a 30-year BOT contract to develop the Zapallal-Trujillo Transmission Line. The project included designing, building, operating and financing a 517km, 500kv transmission line extending from Lima and La Libertad regions, from the outskirts of Lima to the north­western city of Trujillo and was to supply power to the national grid. The contract was awarded to Transmantaro in November 2009 in a competitive tender organized by Proinversion. Transmantaro was comprised of Empresa Electrica de Bogota SA ESP (EEB) [Colombia, 40%] and Interconexion Electrica SA (ISA) [Colombia, 60%] and had participated in several private transmission line projects in Latin America. Including Transmantaro, there were three final bidders; the other two bidders were Abengoa Peru [Spain] and Transcobel SA [Peru]. Transmantaro offered the lowest annual revenue in transmission carrier fees. The total project cost was US $230 million. The project reached financial closure in February 2011 through a 10-year, US dollar-denominated, $160 million syndicated construction and term loan.. Banco de Crédito del Perú was lead arranger and Bancolombia also lent to the project. The sponsors were to provide US $70 million in equity.