Spanish utility Endesa, through its Colombian subsidiary Emgesa, will invest US837 million to build the El Quimbo hydropower plant in Colombia.

The plant will have an installed capacity of 400 MW and will generate around 2,216 GWh/year. Construction of the plant is expected to take around four years.

In other news, the local development agency of Colombia's Antioquia department (IDEA) and Medellin-based multi-utility EPM have signed the formal agreement for the latter to finance, construct, operate and maintain the US$2.8 billion HidroItuango hydroelectric power project in Colombia, EPM reported in a press statement.

The parties reached an initial agreement for the 2,400-MW hydro project in July this year and have since been negotiating smaller details to the contract, Business News Americas reported.