Isagen secures US53 million for Sogamoso hydro project

Colombia's state generator Isagen has completed a process to acquire 101 billion pesos (US$53 million) in financing to help fund construction of the Sogamoso hydropower project.

The financing comes in the form of two 15 year credit notes from financial institution Bancolombia, Business News Americas reported.

The 820-MW Sogamoso hydro project will supply 10 percent of Colombia's energy needs and increase Isagen's generation capacity by 38 percent when it comes online by the end of 2014.

Isagen has previously held several bond issues to secure financing for the project.

In 2009, the Andean Development Corporation approved a US$140 million loan to assist with development of the project, Business News Americas reported.

The project's total cost is estimated at US$1.74 billion, reports indicate.

For more hydropower news and information, click here



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs