Statkraft opens Peru's 172-MW Cheves hydropower plant

Cheves Hydropower Plant

The 172-MW Cheves hydropower plant has officially begun operations in Peru, according to Norwegian owner Statkraft.

The project, located 130 km north of Lima on the Huaura River, is the company's first South American greenfield plant to have been developed and constructed by itself.

"The opening of Cheves consolidates Statkraft's position among the largest power producers in Peru," said Asbjorn Grundt, executive vice president of Statkraft's International Hydropower division. "It also underlines our ambition to further strengthen our position as a leading international provider of pure energy."

Electricity generated by Cheves will be sold through long-term power purchase agreements with eight distribution companies.

Since entering the Peruvian market in 2003 via its subsidiary SN Power, Statkraft Peru has come to own and operate nine hydroelectric plants with a cumulative output capacity of about 443 MW. reported in May 2011 that SN Power subsidiary Empresa de GEneracion Electrica Cheves S.A. had awarded a contract to a consortium consisting of ABB Canada, Rainpower and Jeumont to equip the plant.

Cheves was financed in part by the International Finance Corporation, which announced it would provide long-term financing of up to $250 million for the project in March 2011.

For more news from Latin America, visit here.

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