State power company Empresa Nacional de Electricidad Bolivia has contracted a pair of Chinese companies to construct the Rositas hydroelectric plant.
The deal comes with an initial US$1 billion in financing from the Export-Import Bank of China and will see China Three Gorges Corp. and China International Water & Electric engineer and construct what is expected to be a 500 MW to 600 MW project.
HydroWorld.com reported in December that ENDE had called for expressions of interest in a turnkey contract to develop the plant.
The project, on the Grande River in Santa Cruz department, will be built to help the country advance toward its goal of having hydropower account for 70% of the energy matrix from 2025, as well as export electricity.
Rositas was first proposed in October 1987 under Bolivia's Law 940, which stated that its construction was a national priority. It's development has been unsteady, however, with several other foreign groups expressing an interest in building the plant in ensuing years.
The Bolivian government now said it hopes to have the plant on line by 2024.
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