Endesa to Fund $837 Million for El Quimbo Hydro Facility

Endesa will be investing $837 million towards the construction of the El Quimbo hydro facility. Endesa is based in Spain and is engaged in electricity distribution and generation, renewable energy production and gas supply while being assisted by the company Emgesa, its Colombian subsidiary.

This hydro plant will be having a 400 MW installed capacity while generating power to the extent of 2,216 GWh annually. Construction of this plant is anticipated to take four years while covering an area in excess of 8,000 ha. Emgesa will be carrying out two of the programs, the first one being the environmental compensation program that entails the restoration of the ecosystem of a tropical dry forest spanning an area of 11,080 ha.

The second program is the social compensation program that will be resettling 450 families that require relocation while simultaneously ensuring better standards of living for the people and in comparison to the period prior to resettling, a better quality of life as well.