The IIC closed an agreement for an investment in common stock of up to US$3.9 million in Peruvian company Andean Power Generation S.A.C. The proceeds of the investment will be allocated to the construction and commissioning of the El Carmen and 8 de Agosto run-of-the-river hydropower projects, with a total installed capacity of 27.4 MW in the Monzón district, Huánuco department, Peru. Andean Power Generation S.A.C. is a Peruvian company whose purpose is to channel investments to Generación Andina S.A.C., the owner and developer of the two hydroelectric power plants, as well as a transmission line and the related substations. The hydroelectric plants are expected to start operating during the first quarter of 2016.
Generación Andina is the owner and developer of the rights to develop and build two run-of-the-river hydroelectric plants¬—El Carmen (8.4 MW) and 8 de Agosto (19 MW)—along with a 60-km transmission line for the plants.
The funds raised from the stock issue will be used for the construction and commissioning of the El Carmen and 8 de Agosto hydroelectric projects.