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A hydroelectric project to supply northern Paraguay would cost over US$50mn.
The figure was released following a meeting between the lower house's energy, mines and hydrocarbons committee and project developer Energías Renovables Guaraní.
The plant would use water from the Ypané river and be financed by local or international investors, the house said in a statement.
"It is a solid project and above all necessary. We should opt for other production sources," said committee president Pedro Britos. According to the legislator, the country in 2025 won't be able to increase its offtake of energy provided by Itaipú and Yacyretá.
The committee will meet with state power company Ande and the national energy workgroup on October 14 to review the project.
Last year, the government declared of national interest the development of the country's interior rivers, in particular Ypané.
After capital Asunción and surrounding areas, the north is one of Paraguay's main load centers, according to a hydroenergy atlas, which also highlights the Ypané basin.
The country's power consumption last year rose 9.7% to 9.02TWh.
BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.