China's Dongfang to modernize Venezuela's largest hydro plant

Wednesday, October 15, 2014

Chinese firm Dongfang Electric Machinery won a contract to modernize Venezuela's largest hydroelectric plant Simón Bolívar, known locally as Guri.

Work includes the modernization of units 1-6 of Guri's first generation housing. The project is expected to increase the units' capacity 73%, and add 885MW to Guri's capacity, Venezuela state electricity firm Corpoelec said in a release.

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Dongfang will upgrade the units in groups of two and has 60 months to complete the work. The first two units are scheduled to go online in 2017. The initiative is expected to extend the units' life 25 years.

Multilaterals IDB and CAF are providing 83% of the project's financing, with the rest coming from Corpoelec, the release said.

The project is expected to cost US$327mn, local news station ADN TV said.

In separate report by local newspaper El Universal, power minister Jesse Chacón said Corpoelec is implementing a plan to use more thermoelectric assets to ensure that Guri's water reservoirs return to target operating levels by December.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.