The cost of construction, which is slated to start at the end of January or early February, increased due to high steel prices, according to Neil Watlington, AES Fonseca director.
AES has already found international financial institutions that are interested in the electric energy project. Banks interested in provided credit to AES include HSBC, ABN Amro and WestLB.
The construction of a coal-based power generation plant, which was scheduled to open early this year, could be delayed further.
The plant is located on land near La Unión Port and runs the risk of not even being built, depending on the outcome of the tender.
Daniel Choto wrote in an article in Elsalvador.com: "It all depends on the outcome of an international tender that energy distributors have published in order to purchase 320 Mega Watts of power in the form of long-term contracts, said the chairperson of AES Group. It all depends, he said, on the outcome of the tender. If the group’s company that would be bidding wins, construction would have to begin immediately, once the pending municipal permits are obtained, he said."
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 state has extended the lease on the Aggreko power plants until October.
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."
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