Peru names firms to build 510-MW Cerro del Aguila, 98-MW Santa Teresa

LIMA, Peru 11/10/11 (PennWell) -- A consortium of Italy's Astaldi SpA and GyM-Grana y Montero S.A. of Peru has received contracts to construct the 510-MW Cerro del Aguila and 98-MW Santa Teresa hydroelectric projects in Peru.

Kallpa Generacion, a Peruvian subsidiary of Inkia Energy, awarded a US$680 million contract to the joint venture to carry out Cerro del Aguila on an engineering-procurement-construction basis. Peru's Ministerio de Energia y Minas granted Kallpa a concession in 2009 to perform a feasibility study of Cerro del Aguila, then estimated at 345 MW, in Huancavelica Department.

Cerro del Aguila includes a 380,000-cubic-meter concrete dam, an underground powerhouse, nine kilometers of tunnels, and 60 kilometers of access roads. The work is expected to take four years, with preliminary activity started by the end of the year.

Peruvian distributor Luz del Sur also awarded a 70 million euro (US$94.9 million) contract to Astaldi and GyM to carry out civil works of the 98-MW Santa Teresa project in Peru's Machu Picchu Region.

Investment agency Agencia de Promocion de la Inversion Privada (ProInversion) awarded Luz del Sur a contract in 2010 for construction of Santa Teresa. ProInversion took bids in 2010 for a transmission line to deliver electricity from Santa Teresa, then estimated at 129 MW, and an expansion of the nearby 107-MW Machu Picchu project to 206 MW.

Based on a final design of Santa Teresa by engineer MWH, Astaldi and Gym are to build an underground powerhouse and six kilometers of tunnels. The work is to require 30 months, with completion in 2014.

Astaldi said the two contracts bring to six the number of hydro projects it is carrying out in Latin America. Under construction are 90-MW Huanza in Peru, 66-MW El Chaparral in El Salvador, and 125-MW Pirris in Costa Rica. Astaldi also holds a stake in the concession holder for the 111-MW Chacayes project, which began operation in October in Chile.

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