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Colombia’s ISA Wins Three Energy Transmission Projects in Peru for $141 Mln

BOGOTA, Aug 25 (Reuters) – Colombian conglomerate ISA has won three electricity projects with 240 km (149 miles) of power transmission lines in Peru as the company increases its presence in that country, it said on Friday.

The projects – Enlace 500 kilovolts (kV) San Jose-Yarabamba, 220 kV Piura Nueva-Colan and 220 kV Belaunde Terry, Tarapoto Norte – will require $140 million in investments and will have a concession period of 30 years, ISA said.

The projects will include building new transmission lines and two substations, the company said.

In a securities filing, the company also said the cities of Piura, San Martin and Arequipa will be secured energy supplies and will have a “greater resistance to the possible impacts of the El Nino weather phenomenon.”

It will also allow adapting the capacity of these areas to respond to the energy transition by favoring cleaner energy sources, which are expected to reach 20% of Peru’s energy matrix by 2030, ISA added.

The new awards take ISA’s projects in Peru to 13 and allow the company to advance in its 2023 strategy investment plan, “executing 14% of the business goal in the country.”

ISA – controlled by Colombia’s majority state-owned oil company Ecopetrol – is a conglomerate with operations in energy, roads and telecommunications businesses in Colombia, Brazil, Chile, Peru, Bolivia, Argentina and Central America through 51 affiliates and subsidiaries.

Brazilian electric utility Alupar, through its subsidiary Alupar Peru, also won one project, marking its entry into the transmission segment of the country. The company already had a hydroelectric plant in Peru. (Reporting by Nelson Bocanegra; Writing by Carolina Pulice; Editing by Sandra Maler)

Source : reuters