Bolivia to nationalize Hydroelectric dams owned by French and British companies

Momento 24 - The Bolivian government is now promoting the nationalization of two hydroelectric dams operated by French companies as part of the change process to provide greater benefits for the population.

President Evo Morales stated that this is Corani and Santa Isabel plants, both in the central region of Cochabamba.

Corani, Guaracachi and Valle Hermoso hydroelectric plants were transferred 12 years ago to the private sector, and provide 1,146 megawatts of energy to the major Bolivian cities.

Corani is controlled by the French group GDF Suez, through its subsidiary Inversiones Ecoenergy Bolivia and Guaracachi, by the British group Rurelec PCL. Valley Hermoso is operated by The Bolivian Generatings Group, a subsidiary of Panamerican Bolivia.

Also, Bolivia has received a commitment from the Inter-American Development Bank, or IDB, for a $100 million loan to finance the construction of a hydroelectric plant in the central part of the country.

The plant is part of the Misicuni project in the province of Cochabamba.

Bolivia is very close to being able to export energy because there are places along its rivers where hydroelectric plants can be built to increase the production of electricity by 2,000 MW, the president said.

The Andean nation’s power plants currently produce 1,070 MW to fulfill nationwide demand of 940 MW.

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