Colombian state-controlled electricity grid operator Interconexion Electrica, or ISA, and its partner, state-controlled power firm Empresa de Energia de Bogota SA, or EEB, have won a contract to build and operate a 530-kilometer transmission line in Peru.
The electric line will connect Zapallal, in the outskirts of Lima and the northern city of Trujillo and will require an investment of about US$168 million, the Peruvian Mining and Energy Ministry said Friday on its website.
ISA has 30 months to build the transmission line and will operate it during the next 30 years, the ministry said.
ISA and its partners will earn about US$26 million per year from the project, the ministry added.
ISA controls 60% of the venture in Peru, while EEB controls the remainding 40%.
ISA is one of the largest electricity transmission grid operators in South America, with a network spanning about 38,000 kilometers of lines. Its operations include grids in Ecuador, Peru, Brazil and Bolivia and the company plans to bid for a project in Guatemala and is building a connection between the grids in Colombia and in Panama.
Shares of ISA Monday rose 2.1% to COP11,580 as of 11.51 a.m. EST, while the IGBC index was up 1.5% to 11,085.72 points. (Dow Jones)