LatAm, Caribbean secure hydropower development boost

The IDB has approved technical cooperation to help advance the expansion of Latin America and the Caribbean’s hydroelectric potential.

Under one program, the regional lender will provide US$1.5mn to support the modernization of plants through prefeasibility and feasibility studies, and capacity building and coordination.

The initiative will target Bolivian state power company Ende’s Corani plant, El Salvadoran state power firm CEL’s 15 de Septiembre and 5 de Noviembre plants, Mexican state power company CFE’s Colimilla and Texolo plants, and the Afobaka plant (pictured) operated by Suriname state-run Staatsolie Power.

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A second IDB initiative will look at the deployment of pumped hydro storage in two of six countries (Argentina, Brazil, Chile, Colombia, Panama, Peru) where the bank already conducted initial work on this front.

This program will channel US$250,000 to analyze the regulatory framework, advance case studies and evaluate at least one pilot project. 

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The technical cooperation funds will be used to finance the procurement of consultancy services for both programs.