The company that owns the network has proposed doubling its 2013 budget compared to 2012, which is not acceptable to governments of the region.
Prensalibre.com reports that "Countries in the region, including Guatemala, oppose the amount of the budget for putting the Siepac network into operation, proposed by the company that owns the network (EPR), because it is double that of 2012, reported the deputy energy minister Edwin Rodas. "
The CABEI will provide $4.5 million to complete the financing of the Electric Interconnection System for Central American Countries (SIEPAC).
The Central American Bank for Economic Integration (CABEI) and the Network Owner Company (EPR) signed an agreement on Wednesday for $4.5 million to complete the financing of the Electric Interconnection System for Central American Countries (SIEPAC).
Works on the Central American Electricity Interconnection System (SIEPAC in Spanish) are reported to be 95% complete, and are expected to be operational in March 2012.
At a cost of $490 million, the interconnection line extends from Guatemala to Panamá, with capacity to transport between 200 and 300 megawatts of electricity.
Teófilo De La Torre, president of the company that owns the network (EPR), stated that "the project will reduce the cost of electricity in the region due to the ability to make sales to other countries, including outside of the region, because Central America became connected with Mexico last year”, reported Notimex.
The project is 90% complete, and will end with the construction of the last 150 km of power transmission lines.
Jose Enrique Martinez, general manager of the company that owns the network (EPR) pointed out that the sections that are most behind are those covering the Costa Rican territory, due to problems created by theft of power cables.
He added to Elmundo.com.sv, "We are in the final phase of this project (...) we expect to complete the bulk of the project this year and finish it completely in the second half of 2012."
This is the date by when Central American countries propose to have completed the regional power grid.
By the end of next August the link-up of Costa Rica and Panama is expected to be finished and by October that of Guatemala with El Salvador, says Enrique Martínez, general manager of the Central American proprietary power grid company (EPR in Spanish).