Odebrecht Latinvest Finalizes Sale of Chaglla HPP

Odebrecht Latinvest signed an agreement with a consortium headed by one of thr world’s largest energy generation companies, China Three Gorges Corporation (CTG), to sell the Chaglla Hydroelectric Power Plant, Peru’s third largest with an installed power of 456 MW.

Chaglla is administrated by Empresa de Generación Huallaga S.A. (EGH). This concession will be acquired by Huallaga Holding Company Limited, a company created by the buying consortium. The finalization of the operation is subject to the usual conditions for closing a sale, including approval by Peru’s Ministry of Justice. The agreement will also be submitted for regulatory approval by Chinese governmental entities.

The construction of the hydroelectric power plant was emblematic for the country’s energy generation. With a height that exceeds 200 meters, it is one of the world’s largest concrete face rockfill dams. Its generation capacity corresponds to approximately 10% of the country’s total installed hydric capacity and 4% of its total energy production.

The project recently received the International Milestone Rockfill Dam Project Award, the world’s most important in the dam construction sector. Chaglla was also distinguished in Better Hydro: Compendium of Case Studies 2017, a publication of the International Hydropower Association in collaboration with the World Bank, for its social and environmental risk assessment during the construction and for its commitment to the local communities impacted by the project.