Peru's Ministry of Energy and Mines granted a definitive concession to developer Enersis for its 730-MW Veracruz hydroelectric project.
The plant, which is to be located on the Maranon River in Peru's Cajamarca and Amazonas regions, is scheduled for completion in 2022.
The plant is being developed by Enersis subsidiary Compania Energetica Veracruz and includes the construction of a 170-meter-high dam. The reservoir impounded by the dam is expected to have a capacity of about 430 cubic megametres.
Compania Energetica Veracruz was awarded a concession to perform feasibility studies for the plan in April 2009. The studies were to be conducted in a number of Peru's districts and provinces, ensuring Vercruz meets regulatory, security, environmental and cultural standards.
HydroWorld.com reported earlier this week that Peru's Ministry of Energy and Mines had also granted temporary concessions for a 165 MW hydropower plant in the country's Junin region, and a 118 MW project in its Pasco region.
Peru's legislators submitted a bill to the country's congress this past October seeking to expedite the approval process for hydropower projects with capacities greater than 20 MW.
The South American country is currently developing a number of large hydropower plants to help meet near-record demand for energy, including the 406-MW Chaglla, 600-MW Chadin 2, and 195-MW Araza River complex.
For more news from Latin America, visit here.