Peru Hydropower Project Gets Loan

The Cheves hydropower plant in Peru, a 168MW greenfield project, will get up to $250m financing through the IFC, in the form of an A/B loan. Up to $70m will come from the IFC, while up to $180m will come from international banks. The IFC says this is its first investment in Peru’s power-generation sector. Banks participating in the B loan include DnB NOR Bank, Nordea Bank, Societe Generale, and WestLB. Cheves will produce around 836 gigawatt hours of electricity per year, starting in 2014.