The general administrator for Punta Catalina, Jaime Aristy Escuder, said the construction of the 752 MW coal-fired Central Punta Catalina plant is now at 95% complete. Aristy went on to say that the first unit will be ready at the end of 2018 and by August 2019 the plant will be at full capacity, producing electricity at a much lower price compared to current rates.
As reported in Diario Libre, during a press conference, Aristy Escuder noted that to finish the plant the government has created a contingency fund of US$336 million after reaching an agreement with the consortium Odebrecht-Tecnimont-Estrella. This is in addition to the contracted cost of the power plant, estimated at US$1.945 billion. The government said the expenditures are subject to an audit.
The funds provided by the government are in the federal budget and that the agreement establishes that that consortium will have to pay the US$336 should arbitration in a New York court favor the state. The consortium had sued for US$708 million in additional funds.
The announcement was made at a time when the 300MW AES Andres natural gas plant is out of operation, and when it was confirmed that the CDEEE has signed with the Chinese government entity a memorandum of understanding for a major port and 1200 MW natural gas power plant in Manzanillo, Montecristi in the northwest.
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Diario Libre
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Hoy
18 September 2018
