The three-year contract has been awarded by the Haitian government.
The funding has been secured from the Inter-American Development Bank, the German development finance agency, KfW and OFID, and OPEC's fund for international development.
Peligre will recover its original 54 MW generation capacity by implementing an overhaul of its three turbines and modernizing its equipment and control systems.
Currently, the 40-year-old plant uses only a fraction of its potential.
Furthermore, state utility EdH will upgrade the power transmission line connecting the hydro plant with Port-au-Prince as well the capital's electricity distribution network.
The IDB is supporting such investments with grants totaling $32m.
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