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Financing secured for Cheves hydro project in Peru

IFC, a member of the World Bank Group, will provide long-term financing of up to US$250 million to help build the 168-MW Cheves hydropower project in Peru, developer SN Power has announced.

The Cheves hydro project is located on the Huaura River, 250 kilometers north of Lima.

SN Power, through the project company Empresa de Generacion Electrica Cheves SA, will build and operate the plant. Construction starts in January 2011, with completion projected for 2014.

In other news, Peruvian state generator Egemsa recently submitted an environmental impact statement to the energy and mines ministry to use water from the Aobamba River in Cuzco department to produce hydroelectric power.

The project is comprised of two components, the first of which entails a 7-MW run-of- river small hydro plant, Business News Americas reported.

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