ATN 3, a unit of Spanish conglomerate Abengoa, signed a concession contract Thursday with the Peruvian government for the construction and operation of a 220 kV transmission line in the southern region of Cuzco.
The chairman of Abengoa Peru, Ignacio Baena, inked the deal along with the head of electric and hydrocarbon projects for ProInversion, Peru's private investment promotion agency, Anibal del Aguila; and the head of the Energy and Mines Ministry's electricity division, Orlando Chavez.
The concession contract for the 220 kV Machu Picchu-Quencoro-Onocora-Tintaya transmission line and associated substations will serve to complete the buildout of the SEIN national grid system in Peru's southeast, ProInversion said in a statement.
ATN 3 will be responsible for the design, financing, construction, operation and maintenance of the line, which carries an investment cost of $114 million. The contract will run for 30 years after the 38-month period designated for the project's construction phase.
"Thus far this year, projects amounting to more than $900 million in investment commitments have been delivered in this sector," Del Aguila said. EFE