Spanish utility Endesa, through its subsidiary Emgesa, will invest $837m to build a 400MW hydroelectric plant in southeastern Colombia.
The El Quimbo hydropower plant will generate about 2,216GWh of electricity per year and is controlled by Italy’s Enel.
The plant will be fed by the Magdalena River and its construction will take approximately four years.
Endesa claims that this project will increase energy security and stability of the country’s electrical system, while confirming the purpose of Endesa Enel Group to have a generating capacity of more than 50% of its capacity free of emissions of greenhouse gases.
This is the largest hydroelectric plant developed by Endesa in Latin America after the 690MW Ralco hydroelectric plant in Chile, which was launched in 2004.