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Executive
Summary
Hidroeléctrica
Boliviana S.A. (HB) is proposing to finance,
construct, own and operate two new
run-of-river hydroelectric projects, 83.5 MW
in the aggregate, and re- furbish an existing
850 kW hydroelectric facility (cumulative
capacity of 84.3 MW), along the Taquesi and
Unduavi rivers in the Republic of Bolivia,
South America. The project expects to displace
approximately 10 million metric tons of
greenhouse emission credits over plant life,
this represents approximately 286,298 million
metric tons of CO2 equivalent offsets per
year, estimated to be 35 years. The estimated
total cost of the project will be
approximately $95 million USD. These plants
are being constructed near the small
communities of La Chojlla and Yanacachi,
located approximately 40 kilometers east from
La Paz, in South Yungas area of Bolivia. The
project is being developed as a result of
deregulation of the Bolivian market. Private
electric developments are now permitted; with
payment based on either spot market prices for
firm capacity and energy or negotiated power
purchase agreements. The second and main phase
of the project has begun on January 28, 2000.
The expected operation date is April 2002.
The
850 kW existing refurbished facility, which is
located at the La Chojlla site, was placed in
service in August 1998 and is currently
selling electricity to the Bolivian electric
grid. The refurbishment period was
approximately six months and refurbishment was
completed on schedule and on budget.
The
project's net electrical output will be sold
under the terms of Bolivia's Electricity Law
which regulates electric power production on
the basis of economic dispatch and lowest
marginal cost of production. The Bolivian
model resembles closely the models found in
Argentina, United Kingdom, Chile, and Peru.
Under the Electricity Law, the Project will
receive a fixed capacity payment and energy
payments for all delivered energy. A 115 kV
transmission line will connect the Project
with the Pichu Substation located near
Yanacachi. From the Pichu substation, the
power will be transmitted on an existing 115
kV transmission line to the Kenko substation
near the northern portion of La Paz, Bolivia's
major load center.
Hidroeléctrica
Boliviana, S.A. was established to generate
power in the La Paz region. Tenaska
International LLC, a U.S. energy development
company, is the majority owner and managing
partner of HB. International Mining Company
S.A. and several Bolivian individuals own the
remaining interests.
Tenaska
International is an affiliate of Tenaska, Inc.
Tenaska, Inc., headquartered in Omaha,
Nebraska, is actively engaged in energy
development activities within the United
States and internationally, including
independent power development, natural gas and
power marketing, fuel supply and gas
transportation systems and energy asset
acquisitions. Tenaska has approximately 4,000
megawatts of reliable, cost-efficient and
environmentally clean generating capacity
currently in operation or under construction. |
