Investor Sought for 380 MW Gas Plant

The company which won the tender is offering 70% of the shares in the project in order to get funding for its development.

Tuesday, June 10, 2014

Mutual fund companies, power generators and distributors in South America, the United States and Europe have shown interest in the work estimated at $900 million, which includes the construction of a parallel dock measuring 1200 meters and a floating storage tank. The buyer would own 70% of the shares, the developer Quantum keep 10%, while GLU, representative of the Finnish company Wartsila, would have the 20% it currently holds.

"Alejandro Alle, Manager of the company Quantum said that the new investor would have the majority role in the administration of the work, but would also have limitations ... because they would not be able to change the amount of megawatts to be generated as well as the price of energy or distribution utilities, as these technical aspects are already contained in the contract and can not be changed. "

"The new strategic partner would come into the arena from July. Parallel to this process, Quantum is also processing the respective environmental permits with the Ministry of Environment ... With this permit in hand, the first works on the project could begin in April 2015. Quantum expects that this tank and the whole plant should generally be ready by January 1, 2018, the year in which it is stipulated by contract that the company begins to supply power to the national grid. "

More on this topic

Puma Energy Invests in Panama

February 2015

The company aims to increase its market share in the country and plans to invest $80 million in the construction of a fuel storage facility.

The company is preparing to build its own infrastructure in order to increase its business in the Panamanian market. Besides the construction of the plant, Puma Energy is looking to venture into new lines of business, such as selling jet fuel and asphalt manufacturing and lubricants.

El Salvador : More than $900 million for Natural Gas Plant

November 2013

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.

El Salvador: Only Two Companies Bid in 355 MW Tender

October 2013

AES Fonseca Energía LTO de CV and Asocio Quantum-GLU submitted their technical and financial bids in the tender organized by Del Sur.

"The technical bids will immediately be reviewed by the evaluation committee of the distributors, advised by a group of prestigious local consultants who will look at the legal issues, especially technical and financial ones," said the general manager of the Del Sur, Roberto Gonzalez.

Proposal to Sell Majority Stake in Hondutel

September 2013

The Honduran government plans to find a partner to invest in the company through the purchase of 51% of the shares held by the state.

"We're backing the idea of the formation of a joint venture with a private investor where they will have a 51% stake, the government 22.5% of the shares, and employees who wish to will have 22.5% and 4% will be reserved for provident institutions," said Rigoberto Romero, president of the intervention commission.

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