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11 November 2005 - President Alejandro Toledo Manrique of Peru yesterday officially opened a brand new 130 MW hydroelectric power station in Yuncán build in 21 months by EnerSur - Suez Energy International's Peruvian electricity company. The president started up the three 44.5 MW generators capable of an annual output of 901 GWh.
The Yuncán hydroelectric power station is one of the most important power projects in this country over the past decade. It is located between the districts of Paucartambo and Huachón, in the province and Region of Pasco, some 340 km to the northwest of Lima.
EnerSur signed the 30 year "usufruct agreement" for the Yuncán hydroelectric power station with the Peruvian government on 16 February 2004. The partners of EnerSur are four private companies that manage 99 per cent of pension fund participants in Peru. The Pension Funds made a direct investment of $48m in EnerSur, underwriting a capital increase for that amount. The pension funds now have a 21 per cent stake in EnerSur.
The fact that pension funds became part-owners of EnerSur allowed approximately 3 million members to become indirect shareholders in EnerSur and thus partners in Peru's third largest private electric power generating company.
"The Yuncán n project ideally complements our current situation in terms of EnerSur's electricity output. The new portfolio of plants will enhance our ability to produce low-cost hydroelectric power, while boosting our reliability profile due to our existing reserve power capability. This enhancement will not just make us more competitive on the market, it will also give us a more advantageous position since we will be less exposed to any changes that might take place in the national energy system (droughts) or in prices on the wholesale market," EnerSur CEO Willem Van Twembeke pointed out.
Yuncán will constitute a fully-fledged growth pole for the Pasco region and a model of synergy between the authorities, private business and local residents.
Suez Energy International is the owner of EnerSur, currently the third largest power generator in the country operating 2 thermal power stations in southern Peru representing 410 MW.
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