US $140M Loan Approved for New Colombian Hydro Project

The Andean Development Corporation approved a US $140 million loan to assist with development of state-run Isagen’s Sogamoso hydroelectric project in eastern Colombia, Business News Americas reported.

The project’s total cost is estimated at US $1.74 billion, and bond money will finance the first phase of construction. The Andean Development Corporation loan will help finance the second phase.

The Sogamoso project, located on the Sogamoso River, will feature a 190-meter-high concrete face dam and will have a generating capacity of 820 MW.

Project completion is slated for 2014, according to Business News Americas reports. 

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