Peru’s Cálidda lining up financing for expansion plan
Cálidda, which distributes natural gas to Peru’s capital Lima and neighboring port Callao, looks to secure multilateral support to help fund its 2020-21 expansion plan.
The Grupo Energía Bogotá-controlled company has submitted a request to IDB Invest for up to US$100mn in financing to increase the number of connections, principally for homes and SMEs.
According to the IDB’s private lending arm, the unsecured corporate loan would have an amortization period of eight years.
IDB Invest’s board is scheduled to review the request at end-July.
Earlier this month, energy and mining investment regulator Osinergmin approved Cálidda’s 2020 plan which includes the installation of over 600km of network.
Read Peru’s Cálidda secures 2020 plan green light
Osinergmin data show that gas shipments to Cálidda from Transportadora de Gas del Perú (TGP) have been recovering amid a gradual reopening of the economy which had been on lockdown due to COVID-19.
Cálidda receives TGP gas at the Lurín city gate for supply to Lima and Callao and distributes gas to power producers via smaller ducts.
Delivered gas volume along TGP network, this month's data through June 25 (Source: Osinergmin)
Class & Asociados recently maintained its ‘AAA’ rating on Cálidda’s first corporate bond program with a stable outlook due to the backing of the distributor’s shareholders, its 33-year concession (extendable up to a cumulative term of 60 years) and development opportunities.
Photo credit: Osinergmin
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