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  • Curzamala system third line

    The project involves the construction of line 3 of Mexico City's Cutzamala water distribution system, which will help ensure supply during required maintenance periods. The Cutzamala system currently consists of two distribution lines and draws water from seven reservoirs in the Mexico valley. In operation for 30 years, the system requires extensive maintenance work that will be possible once a third line is built. The system supplies some 14,000l/s of water to Mexico City and Toluca. The project will be divided in four stretches; Analco-San José tunnel- Pericos tank Pericos tank - PI 313 Km 42+379.53 PI 313 Km 42+379.53-Sta. Isabel tank Sta. Isabel tank – Oscillation Tower No. 5

  • Chile solar watch: 160MW, 164MW, 144MW project updates

    Italian renewable energy giant Enel Green Power (EGP) connected its 160MW Finis Terrae solar PV plant to Chile's northern SING power grid. The US$270mn project – EGP's largest in Chile – is backed by a long-term PPA and can produce 400GWh/y, a company statement said. EGP operates over 880MW of renewable capacity in Chile, comprising 364MW wind, 430MW solar PV and 92MW hydropower. The firm has another 300MW of projects in execution, which will bring its installed capacity in Chile to about 1,200MW. *** Chilean power generator Colbún will purchase 500GWh/y of solar energy from SunPower, a subsidiary of French energy major Total, under a 15-year PPA. Output will come from a 164MW solar PV plant, which SunPower will design and build. SunPower won the contract through a competitive tendering process in which more than 13 firms participated, Colbún said in a statement. The announcement follows news that Colbún will purchase 200GWh/y of energy and two early-stage PV projects totaling 202MW from SunEdison in Chile. *** Chilean firm Avenir submitted an environmental impact study to authorities for the US$200mn, 144MW Nuevo Futuro solar PV project. The project would be built near the town of Vallenar, Atacama region (III), and feed into Chile's central SIC power grid. Avenir is also developing the US$217mn Divisadero and US$343mn El Romero PV projects in Chile. Solar energy accounted for 2.5% of total electricity output on Chile's two main grids in April, according to state renewable energies center Cifes.

  • Enel's shareholders approve 2015 financial results, appoint auditors

    Rome, May 26th, 2016 - The Ordinary and Extraordinary Shareholders' Meeting of Enel S.p.A. ("Enel"), chaired by Patrizia Grieco, was held today in Rome. In the ordinary session the shareholders first approved Enel's financial statements as of December 31st, 2015, while the consolidated financial statements of the Enel Group referred to the same financial year were presented. Acting on a proposal of the Board of Directors, the shareholders then approved a dividend of 0.16 euros per share, of which 0.08 euros will be paid as a distribution of earnings for financial year 2015 and 0.08 euros as a partial distribution from the available "retained earnings" reserve. The dividend will be paid - before withholding tax, if any - from June 22nd, 2016, with the ex-dividend date of coupon no. 24 falling on June 20th, 2016 and the record date (the date of entitlement for the dividend payment) falling on June 21st, 2016. The Shareholders' Meeting also appointed the new Board of Statutory Auditors, which will be composed of Sergio Duca (confirmed as Chairman, drawn from the minority slate presented by a group of institutional investors), Roberto Mazzei and Romina Guglielmetti as regular Auditors (both newly appointed and drawn from the slate presented by the reference shareholder, the Italian Ministry of Economy and Finance, that obtained the most votes), and, as alternate Auditors, Alfonso Tono and Michela Barbiero (both also newly appointed and drawn from the slate presented by the Italian Ministry of Economy and Finance), as well as Franco Tutino (confirmed in his office and drawn from the minority slate presented by a group of institutional investors). The above mentioned Board of Statutory Auditors will remain in office until the approval of the 2018 financial statements. The slates from which the members of the new Board of Statutory Auditors were drawn and their biographies are available on Enel's website (www.enel.com). The Shareholders' Meeting confirmed subsequently a gross annual remuneration of 85,000 euros for the Chairman and 75,000 euros for each of the other regular Statutory Auditors, in addition to the reimbursement of properly documented travel and living expenses incurred in performing the duties of the office. The Ordinary Shareholders' Meeting approved the Long-Term Incentive Plan for 2016 reserved for the management of Enel and its subsidiaries pursuant to Article 2359 of the Italian Civil Code, and voted in favour of the section of the Remuneration Report setting out the policy adopted by the company for the financial year 2016 regarding the remuneration of the Directors, the General Manager and the Executives with strategic responsibilities. In the extraordinary session the Shareholders' Meeting approved the amendment of article 14.3 of the Corporate bylaws, concerning the procedure for the appointment of the Board of Directors by slating vote. This amendment, proposed by the Board of Directors in light of the evolution of the ownership structure of Enel, is aimed at integrating the provisions concerning the appointment of the Board of Directors, in order to allow the entire administrative body to be elected by slating vote even in the event that the slate that has obtained the most votes at the Shareholders' Meeting contains a lower number of candidates than 7/10 of the Directors to be elected, assigned to that slate by the Corporate bylaws. The amendment is therefore aimed at allowing, even in the above-mentioned case, the appointment of the entire Board of Directors through a single vote based on the slate mechanism, on the condition that the overall number of candidates indicated in the slates submitted by the shareholders is at least equal to that of the Directors to be elected. Should this not be the case, for positions that remain unfilled.

  • Ibagué-Cajamarca 4G highway

    The Ibagué-Cajamarca project involves the expansion, rehabilitation and maintenance of 225km of highway. Work will include widening 35km of highway along the following stretches: Combeima-Boquerón (10.8km), Variante Boquerón (1.2km), Cajamarca bypass (3km), Boquerón-Valle del Cocora (3.1km) and Valle del Cocora-Cajamarca (17km). It will also involve building seven tunnels, 58 bridges and maintaining 190km of highway between Girardot (Cundinamarca)-Ibagué and Cajamarca (Tolima). Consortium APP-Gica S.A., made up of Constructora Colpatria, Mincivil, HB Estructuras Metálicas, Termotécnica Coindustrial and Coindustrial de la Alianza Público Privada, won a contract to develop the project under a public-private partnership model.

  • Pisco and Seco river basin hydric reiforcement

    The project involves capturing and regulating excess water from the Pisco River in order to bolster the water supply of the Pisco basin. In addition, the project would refill the groundwater sources that supply the Villacurí and Lanchas localities. Overall, the project would allow over 18,000ha of land to be irrigated exclusively from subterranean water. There are three alternative designs for the project, two of which involve dams.The tender phase of the project would be carried out by Peru´s private investment agency Proinversión.

  • Brazil's energy sector 'needs a revolution'

    Sweeping changes are needed to revitalize Brazil's ailing energy sector and regain the confidence of investors, an industry expert has told BNamericas. Xisto Vieira Filho, president of the Abraget thermoelectric generators association, said a new pro-market approach and moves to lessen Brazil's dependence on hydropower were vital for the industry to move forward. "The electricity and oil and gas industries are in a terrible situation," Vieira Filho said. "Brazil truly needs a revolution of major proportions in this area." Vieira Filho said he was optimistic about changes made by interim president Michel Temer, who assumed Brazil's top office on May 12 after impeachment proceedings began against Dilma Rousseff for her alleged manipulation of government accounts. Temer's appointments include 32-year-old businessman-turned-politician Fernando Coelho Filho as the mining and energy minister and Pedro Parente, the former head of agribusiness giant Bunge Brasil, as the CEO of state-run oil company Petrobras. "Petrobras just won a valuable gift called Pedro Parente," Vieira Filho said. "We worked together and I feel comfortable saying that he is extremely qualified for this task. [...] I believe he'll do everything he can to recover the company." High on the interim government's agenda is a draft bill to lift restrictions on the participation of foreign companies in pre-salt oil and gas fields deep below the Atlantic. Temer has already said he supports the proposal, which has been approved by the senate and is now being reviewed by a lower house committee. Coelho Filho has also been urged to introduce measures that reduce Brazil's reliance on hydroelectric plants, which comprise about two thirds of the country's installed power capacity. The full interview with Vieira Filho can be seen here. [GRAFICO:FIGURA:ID_402] $(function(){var grafico = '{"colors":["#001b96","#f78e1e","#181818","#8ec4fb","#fabb78","#2577cb","#d9d9d9","#1281b4","#7d7d7d","#3349ab","#0f648b","#343434"],"chart":{"renderTo":"chart_plotted","type":"pie","plotBackgroundColor":null,"plotShadow":false},"plotOptions":{"pie":{"allowPointSelect":true,"cursor":"pointer"}},"series":[{"data":[{"name":"Hydro (77%)","y":36108.93,"visible":true},{"name":"Thermal (15%)","y":6927.66,"visible":true},{"name":"Nuclear (3%)","y":1427.65,"visible":true},{"name":"Wind (5%)","y":2271.33,"visible":true}],"name":"April 2016","type":"pie"}],"title":{"text":"The Brazilian energy matrix"},"subtitle":{"text":"April 2016"},"credits":{"text":"Source: BNamericas.com with data from Operador Nacional de Sistema Eléctrico (ONS)","href":"http://subscriber.bnamericas.com/Subscriber/en/data/dataset/electricity-generation-monthly-data/","style":{"fontSize":"11px"}},"exporting":{"enabled":true}}'; var json_grafico = JSON.parse(grafico); json_grafico.chart.renderTo="graficodiv402"; var graficarlo = new Highcharts.Chart(json_grafico);});

  • Brazil's energy sector 'needs a revolution'

    Sweeping changes are needed to revitalize Brazil's ailing energy sector and regain the confidence of investors, an industry expert has told BNamericas. Xisto Vieira Filho, president of the Abraget thermoelectric generators association, said a new pro-market approach and moves to lessen Brazil's dependence on hydropower were vital for the industry to move forward. "The electricity and oil and gas industries are in a terrible situation," Vieira Filho said. "Brazil truly needs a revolution of major proportions in this area." Vieira Filho said he was optimistic about changes made by interim president Michel Temer, who assumed Brazil's top office on May 12 after impeachment proceedings began against Dilma Rousseff for her alleged manipulation of government accounts. Temer's appointments include 32-year-old businessman-turned-politician Fernando Coelho Filho as the mining and energy minister and Pedro Parente, the former head of agribusiness giant Bunge Brasil, as the CEO of state-run oil company Petrobras. "Petrobras just won a valuable gift called Pedro Parente," Vieira Filho said. "We worked together and I feel comfortable saying that he is extremely qualified for this task. [...] I believe he'll do everything he can to recover the company." High on the interim government's agenda is a draft bill to lift restrictions on the participation of foreign companies in pre-salt oil and gas fields deep below the Atlantic. Temer has already said he supports the proposal, which has been approved by the senate and is now being reviewed by a lower house committee. Coelho Filho has also been urged to introduce measures that reduce Brazil's reliance on hydroelectric plants, which comprise about two thirds of the country's installed power capacity. The full interview with Vieira Filho can be seen here. [GRAFICO:FIGURA:ID_402] $(function(){var grafico = '{"colors":["#001b96","#f78e1e","#181818","#8ec4fb","#fabb78","#2577cb","#d9d9d9","#1281b4","#7d7d7d","#3349ab","#0f648b","#343434"],"chart":{"renderTo":"chart_plotted","type":"pie","plotBackgroundColor":null,"plotShadow":false},"plotOptions":{"pie":{"allowPointSelect":true,"cursor":"pointer"}},"series":[{"data":[{"name":"Hydro (77%)","y":36108.93,"visible":true},{"name":"Thermal (15%)","y":6927.66,"visible":true},{"name":"Nuclear (3%)","y":1427.65,"visible":true},{"name":"Wind (5%)","y":2271.33,"visible":true}],"name":"April 2016","type":"pie"}],"title":{"text":"The Brazilian energy matrix"},"subtitle":{"text":"April 2016"},"credits":{"text":"Source: BNamericas.com with data from Operador Nacional de Sistema Eléctrico (ONS)","href":"http://subscriber.bnamericas.com/Subscriber/en/data/dataset/electricity-generation-monthly-data/","style":{"fontSize":"11px"}},"exporting":{"enabled":true}}'; var json_grafico = JSON.parse(grafico); json_grafico.chart.renderTo="graficodiv402"; var graficarlo = new Highcharts.Chart(json_grafico);});

  • Brazil's energy sector 'needs a revolution'

    Sweeping changes are needed to revitalize Brazil's ailing energy sector and regain the confidence of investors, an industry expert has told BNamericas. Xisto Vieira Filho, president of the Abraget thermoelectric generators association, said a new pro-market approach and moves to lessen Brazil's dependence on hydropower were vital for the industry to move forward. "The electricity and oil and gas industries are in a terrible situation," Vieira Filho said. "Brazil truly needs a revolution of major proportions in this area." Vieira Filho said he was optimistic about changes made by interim president Michel Temer, who assumed Brazil's top office on May 12 after impeachment proceedings began against Dilma Rousseff for her alleged manipulation of government accounts. Temer's appointments include 32-year-old businessman-turned-politician Fernando Coelho Filho as the mining and energy minister and Pedro Parente, the former head of agribusiness giant Bunge Brasil, as the CEO of state-run oil company Petrobras. "Petrobras just won a valuable gift called Pedro Parente," Vieira Filho said. "We worked together and I feel comfortable saying that he is extremely qualified for this task. [...] I believe he'll do everything he can to recover the company." High on the interim government's agenda is a draft bill to lift restrictions on the participation of foreign companies in pre-salt oil and gas fields deep below the Atlantic. Temer has already said he supports the proposal, which has been approved by the senate and is now being reviewed by a lower house committee. Coelho Filho has also been urged to introduce measures that reduce Brazil's reliance on hydroelectric plants, which comprise about two thirds of the country's installed power capacity. The full interview with Vieira Filho can be seen here. [GRAFICO:FIGURA:ID_402] $(function(){var grafico = '{"colors":["#001b96","#f78e1e","#181818","#8ec4fb","#fabb78","#2577cb","#d9d9d9","#1281b4","#7d7d7d","#3349ab","#0f648b","#343434"],"chart":{"renderTo":"chart_plotted","type":"pie","plotBackgroundColor":null,"plotShadow":false},"plotOptions":{"pie":{"allowPointSelect":true,"cursor":"pointer"}},"series":[{"data":[{"name":"Hydro (77%)","y":36108.93,"visible":true},{"name":"Thermal (15%)","y":6927.66,"visible":true},{"name":"Nuclear (3%)","y":1427.65,"visible":true},{"name":"Wind (5%)","y":2271.33,"visible":true}],"name":"April 2016","type":"pie"}],"title":{"text":"The Brazilian energy matrix"},"subtitle":{"text":"April 2016"},"credits":{"text":"Source: BNamericas.com with data from Operador Nacional de Sistema Eléctrico (ONS)","href":"http://subscriber.bnamericas.com/Subscriber/en/data/dataset/electricity-generation-monthly-data/","style":{"fontSize":"11px"}},"exporting":{"enabled":true}}'; var json_grafico = JSON.parse(grafico); json_grafico.chart.renderTo="graficodiv402"; var graficarlo = new Highcharts.Chart(json_grafico);});

  • Junior financing, appointment roundup: Almaden, Southern Silver, Golden Tag, Americas Silver

    Vancouver's Almaden Minerals closed a non-brokered private placement of units for gross proceeds of Cdn$4.4mn (US$3.37mn), the company said in a statement. The proceeds will be used to advance the Ixtaca deposit in Mexico towards the completion of prefeasibility studies, to continue permitting work, to conduct exploration drilling and for general working capital. *** Mexico-focused Southern Silver Exploration closed a non-brokered private placement of units for gross proceeds of Cdn$1.1mn, to be used for working capital, costs associated with claim maintenance and for the first phase of the 2016 exploration program at the Oro project in New Mexico. Southern Silver has the Cerro Las Minitas project in Mexico's Durango state. *** Montreal-based Golden Tag Resources will seek to raise up to Cdn$900,000 through a unit issuance, with completion targeted for June 27 and subject to definitive agreements. Of the proceeds, Cdn$500,000 will be used to purchase the remaining 50% interest in the San Diego silver project in Mexico's Durango state from Golden Minerals, with any excess to be used for general corporate purposes, said a company statement. *** Toronto's Americas Silver appointed Alex Davidson as chairman, replacing Peter Hawley who will continue to act as director, according to a press release. The company also announced that the Nuestra Señora mine, part of its Cosalá operations in Mexico, has restarted ore production and expects mill feed from the mine to be processed before the end of the week.

  • Colombia's ISA fattens transmission portfolio

    Colombia's mines and energy ministry and mining and energy planning unit UPME awarded state-run transmission group ISA a contract to improve power supply in Boyacá department. The work encompasses design, construction and O&M of the 230kV San Antonio substation and associated lines. The infrastructure must come online by June 30, 2018. The other bidders were Empresa de Energía de Boyacá and Consorcio de Energía de San Antonio (Edemsa-Ingeniería Aliadas). ISA won with a bid of US$57mn and will carry out the project through subsidiary Intercolombia. Expected annual revenue for the company over the 25-year contract is US$7mn. ISA also has submitted an offer in UPME's call to reinforce dispatch in Caldas department. Also from Colombia, residential public services regulator Superservicios and Cali utility Emcali will form workgroups on June 1 to draft proposals to help the service provider overcome financial and operational difficulties. Issues to be addressed will include debt refinancing, rates and losses. The announcement follows a meeting between watchdog head Patricia Duque Cruz, Cali mayor Mauricio Armitage and Emcali manager Cristina Arango Olaya, among others. CREDIT: Superservicios/Cali municipality

  • Cauchari-Olaroz

    Lithium Americas' Cauchari-Olaroz lithium/potash brine project is a 82,500ha property comprising a significant portion of two adjacent salt lakes, Cauchari and Olaroz. The project is in very close proximity to the Chilean port facility of Antofagasta - the deep sea port approximately 550km away, from where the final lithium product will be shipped to end customers. The project will be developed in two stages. The 20,000t/y lithium carbonate and 40,000t/y potash production for stage 1 is expected to commence in 2015 and has an initial capital expenditure of US$269mn for lithuim and US$45mn for potash.

  • COL 8 Block

    The offshore COL 8 block covers 934,030ha and is located in the Colombia basin, in the country of the same name. The block, classified as ¿opportunities for the technical evaluation of border areas,¿ is part of the 2014 Colombian Round for production and exploration licenses, promoted by local hydrocarbons agency ANH and the mines and energy ministry (Minminas). The 36-month contract involves the acquisition of 6,000km of 2D seismic and the carrying out of 80 piston core tests. The contract will last three years for exploratory activities and 24 years once production has started, and is extendable for another 10 years.

  • Cobre Panamá

    The Cobre Panamá concession project, consisting of four zones totaling 13,600ha, will produce copper and molybdenum concentrate. Mine workforce levels will vary between about 317 and 563 people during the operating years. Minera The project is managed by First Quantum's Minera Panamá and its JV partner KPMC (Korea Panama Mining Corporation). KPMC is a joint venture between South Korean businesses LS-Nikko Copper and state-owned Korea Resources (Kores).

  • Panama metro line No. 2

    The project involves the construction of an elevated subway line, between San Miguelito and Nuevo Tocumen. The line will have 16 stations, and capacity to transport 16,000 passengers per hour per direction. Construction works and supply of rolling stock were awarded to Consorcio Línea 2, consisting of Spanish firm FCC Construcciones and Brazil's Constructora Norberto Odebrecht. Consorcio PML2, made up of Ayesa Ingeniería y Arquitectura, S.A., The Louis Berger Group, Inc and Transporte Metropolitana de Barcelona S.A was awarded the project's supervision and management.

  • The silver lining to global uncertainty, Mark Brennan, CEO

    Silver prices will outstrip base metals this year as investors seek a haven from inflation and the mining industry struggles to replace its reserves, according to Sierra Metals CEO Mark Brennan, who spoke to BNamericas about silver markets, costs and the company's expansion plans in Peru and Mexico. Mark Brennan, formerly an investment banker and later executive at Largo Resources and Desert Sun Mining with 30 years of experience in the mining industry, joined Sierra Metals in April 2015. Toronto-based Sierra Metals, which began operating in 2003 as Dia Bras Exploration, produces five metals at its mines in Peru and Mexico.

  • Cundinamarca perimeter corridor

    The project is being developed by Colombia's infrastructure agency, ANI, and involves the building of the Perimetral Oriental de Cundinamarca highway, which stretches between the municipalities of Sopo and Cáqueza, ending in Bogotá and connecting with Villavicencio. The project aims to alleviate traffic on the outskirts of the capital and includes three additional highway stretches to complement the main route. The main works include building new roads and lanes, the improvement and rehabilitation of existing roads and the construction of toll booths. The project will also include the improvement of the Salitre-Guasca and Patios-La Calera roads. It is part of Colombia's 4G highway concession plan. Perimetral Oriental de Bogotá S.A.S (Shikun & Binui–Grodco) will be in charge of the construction, rehabilitation, improvement, operation and maintenance of the Cundinamarca perimeter corridor.

  • Talcahuano Carriel Sur airport expansion and improvement

    The project involves the expansion and improvement of the airport. The improvements will be focused on passenger services, offices, support buildings, access ways, interior circulation and parking. The project will enable the airport to receive a higher number of passengers. In addition to the improvements, the project involves the relocation of numerous service buildings. This would be the second concession of the airport, with the first expiring on August 23, 2016.