EEB Was Awarded With An Electricity Transmission Project To Reinforce Infrastructure In Southwestern Colombia
12 February 2015
- This project, whose influence is in the departments of Antioquia, Caldas, Quindío, Risaralda and Valle del Cauca, was awarded by the UPME to EEB after having presented the best economic offer. The project will demand an estimated investment amount approximately of USD 350 million.
- EEB consolidates as one of the leading players in the electricity transmission business in Colombia, as the fastest growing Group in the last two years.
Bogotá, D.C., February 12, 2015. The Mining and Energy Planning Unit (UPME by its Spanish Acronym) awarded today to EEB, parent company of Grupo Energía de Bogotá, one of the most important projects to reinforce Colombia's energy infrastructure, in southwestern country.
This is the UPME bidding process 04-2014 Southwestern Reinforcement: Alferez Substation 500 kV and its associated transmission lines, whose influence will be in the departments of Antioquia, Caldas, Quindío, Risaralda and Valle del Cauca.
This reinforcement was defined as part of the UPME expansion plan, which includes associated works for the connection of Ituango power plant and its corresponding network, and extending the lines to increase transfers to the southwestern part of the country.
"This is one of the largest transmission projects that will be developed in the coming years in the country. Being awarded in this UPME bidding process makes us feel full of satisfaction and proud, at the same it becomes into a big challenge which we expect to successfully complete”, pointed out EEB’s CEO, Ricardo Roa Barragán.
Likewise, Mr. Roa said that this is a project that strengthens the growth of the Company and contributes to the strategic execution of the investment plan set for this year. "This consolidates EEB’s transmission market share in the country by simultaneously increasing reliability of electricity in the Southwest part of the country” mentioned Mr. Roa.
EEB won the bidding by offering an economic bid with a net present value of USD 198,207,882.
This project is in addition to those already undertaken by the company in several regions such as the Sogamoso – Norte – Nueva Esperanza Project 500 kV, Armenia Project - Substation 230 kV, and North Project 230 kV as well as those already under execution such as 230kv Tesalia Substation, Cartagena-Bolívar and Río Córdoba Project in the department of Magdalena.
Thus, EEB has become the second biggest electricity transmission company in Colombia and the first with largest growth within the last two years.
About Grupo Energía de Bogotá
Grupo Energía de Bogotá (GEB) is the leading corporation in the Colombian power sector. Through EEB, GEB transports electricity to the most significant markets in terms of demand and size in the country, in addition to controlling the largest natural gas transportation company in Colombia, TGI S.A. In Peru, its subsidiary CONTUGAS has a 30-year concession for the transportation and distribution of natural gas in the Ica Region, while CALIDDA is in charge of natural gas distribution in Lima and Callao. In that same country, together with ISA, GEB holds a stake in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in Peru. In 2010, GEB established TRECSA -Transportadora de Energía Centroamericana S.A.- currently building the most important infrastructure Project in Guatemala that will render electricity transmission services as of 2015. Furthermore, GEB holds an investment portfolio in the most important companies in the electricity and natural gas sector, in which the following stand out, CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., Empresa de Energía de Cundinamarca - EEC and Electrificadora del Meta, EMSA and to a lesser extent ISA and ISAGEN. As of 2013, the Group renders advisory and engineering services in Guatemala and Peru through its subsidiaries EEB Ingeniería y Servicios. In 2014, Empresa de Movilidad de Bogotá SAS E.S.P., was constituted as subsidiary related to the development of electrical mobility projects
Nicolás G. Mancini-Suárez
GEB Financing and Investor Relations Manager
Tel. 3268000 ext. 1675, 1827