LEADING-EDGE TRANSACTIONS: What are Leading-Edge Transactions for Possible Replication?
| Name: | SINERSA (DEG, IIC, CIFI) |
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| Entered On: | 01/30/2008 at 11:42 AM |
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| Updated On: | 05/07/2008 at 03:23 PM |
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| Year of Financial Closure: | 2006 |
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| Host Country: | Peru |
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| Project Majority Ownership: | private |
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| Innovative Aspects: | The privately owned hydroelectric plant Poechos 1 of Sindicato Energético S.A. (SINERSA), with a capacity of 15.4 MW, has gone on stream in the northwest of Peru, on the border to Ecuador. Thanks to Poechos 1, 20,000 people are now supplied with electricity for the first time.
The Poechos Reservoir was built in 1975 for irrigation purposes and the construction of small hydroelectric plants taken into consideration at that stage. However, the country did not have the means to realise the plan. After the opening up of the electricity market to private companies in the 1990s, a small group of domestic and international investors adopted the plan. They founded SINERSA and built the 12.5 MW Curumuy power plant, which was Peru’s first private hydroelectric power station.
With Poechos 1, a second, smaller power plant is now producing electricity using the water from the reservoir; the water is subsequently redirected back into rivers and used for agricultural irrigation. The electric power is supplied to the partly privatised regional energy-supply company Electronoreste as part of long-term electricity purchasing agreements and then fed into the national grid. Electronoreste has installed distribution stations in order to be able to supply households in remote areas as well.
Poechos 1 was financed by DEG together with the Inter American Investment Corporation (IIC) and the infrastructure fund Corporación Interamericana para el Financiamiento de Infraestructura (CIFI).
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| Source(s): | DEG |
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| Documents: |
Peru - Poechos - DEG (2004).pdf
Peru - Poechos_Prototype Carbon Fund - World Bank (2004).pdf
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