Low levels in reservoirs and the postponement in the start of operations of the AES Changuinloa hydroelectric plant until September, have led to the extension of the lease.
"The original contract for one year costs $55.5 million and expired in March, but the Cabinet approved a three month addendum that expires in June at a cost of $14 million", noted an article in Prensa.com, "with the extension of the contract, another $14 million would probably have to be paid."
More on this topic
The company announced that in 2016 the proposed power plant in La Union, El Salvador, would come into operation, but as yet has not indicated the sources of funding or the name of the construction company.
Sources at the Salvadoran National Energy Board told CentralAmericaData.COM that Cutuco Energy Central America has obtained some of the necessary permits for the project, but not all of them, and still does not know where financing will come from. It also noted that the company AES, a global corporation already involved in the country's energy sector, has a similar project planned for installation also in La Union, and that the existence of both projects, involving an investment of about $1000 million each one, does not seem viable.
With a $ 100 million investment, the Termopuerto thermal plant will become operational in June.
The power manager of the Superintendence of Electricity and Telecommunications (Siget), Geovanni Hernandez, explained that they still have to build a transmission line linking the plant with a sub-station in Acajutla.
The consortium Quantum-GLU would be the winner of a long-term contract to supply 335 MW generated from a power plant that would be built by the company.
A statement from the National Energy Board reads:
The electricity distribution company DELSUR has made public the financial bids offered by two companies who submitted documents for the tender for 355 megawatts (MW) of power and associated energy, namely: Asocio Quantum-GLU and AES Fonseca Energía, who on October 1 submitted the information required to participate in the tender for the supply of power for 20 years.
The power plant built in León will generate 27.2 megawatts of energy. It required an investment of $30 million.
The new plant in León, together with two new plants Nagarote and Puerto Sandino, will generate 120 megawatts in total, with which the Ministry of Energy and Mines hopes to solve energy distribution problems in Nicaragua.