Executive: Developer to Wrap Financing For LatAm Hydro Project

A Norwegian developer is close to securing financing supporting the construction of a 168 megawatts,  hydro project in Peru.

A unit of Norwegian industrial group Statkraft is close to securing long-term debt financing supporting the construction of the $400 million, 168 megawatts Cheves hydro project in Peru.

An industry source tells G.E.R. that Société Générale and the the World Bank’s International Finance Corporation (IFC) are involved in the financing, which consists of an A loan and B loan.

Details on the exact amount of the loans as well as their pricings and terms were not available as officials at SG and the IFC declined comment or did not return calls, emails.

The Cheves project is situated about 130 kilometers (80.7 miles) north of Lima. Construction is expected to start next year and scheduled for completion in 2013.

Source: Green Energy Reporter