TRECSA has received a loan for USD 87 mm to complete electric transmission project in Guatemala
16 August 2014
Guatemala City, August 15th, 2014. Transportadora de Energía de Centroamérica, S.A. -TRECSA-, Guatemalan subsidiary of Grupo Energía de Bogotá, received today the disbursement of a loan granted by Citibank Guatemala amounting USD 87,000,000 and one-year term, in order to finance the additional investments for the period 2014-2015 related to the implementation of PET-1-2009 project, which aims the construction of about 850 km of transmission lines and 12 new high voltage substations, as well as the expansion of 12 existing substations.
This loan is projected to be refinanced through a long-term facility with multilateral banks. It should be recalled that on April 20th 2014, the Pacífico Substation started operations, considered as the first substation of the project that is been undertaken by TRECSA across the country.
As is known, the Government of Guatemala, through the National Energy Commission (CNEE), granted in 2009 to Grupo Energía de Bogotá the construction, management, operation and maintenance of the first phase of Plan System Expansion Energy Transmission, PET-01-2009.
In 2010 TRECSA was born, in order to perform the PET-01-2009, a project of nation and national urgency, as it will contribute to providing a service more economical, reliable and affordable energy to Guatemalans.
About Grupo Energía de Bogotá
Grupo Energia 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.