$250 million integrated gas and power project to be developed by U.S.-based corporations in Peru.NEW YORK--(BUSINESS WIRE)--July 29, 1996--Aguaytia Energy del Peru S.R. Ltda. has reached financial closing regarding the development of the first integrated gas and power project in Peru. The $250 million project is one of the first privately developed merchant power plants in Latin America with long-term project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. . Aguaytia Energy is a joint venture led by The Maple Gas Corp. and includes PanEnergy International Corp., El Paso Energy International Co., Illinova Generating Co., Scudder Latin American Power Fund, and Power Markets Development Co. The $250 million project includes $78 million of 12-year non-recourse debt Non-Recourse Debt A loan that is secured by some sort of collateral, usually property. The issuer can seize the collateral if the borrower defaults. Notes: These types of projects are characterized by high capital expenditures, long loan periods, and uncertain revenue financing by Trust Co. of the West and TCW TCW Total Carat Weight TCW Temporal Cold War (Star Trek Enterprise) TCW Troop Carrier Wing TCW Turnbuckle Championship Wrestling TCW Tasty Coma Wife (Scrubs episode) Asset Management Co. In March, 1994, Maple signed a License Contract with the Government of Peru The government of Peru, as established by the 1993 Constitution, is a presidential representative democratic republic. Legislative branch
Aguaytia Energy has signed three turnkey EPC (1) (Entertainment PC) See HTPC. (2) (Electronic Product Code) A standard code for RFID tags administered by EPCglobal Inc. (www.epcglobalinc.org). Contracts with subsidiaries of Asea Brown Boveri to construct the gas and power project. The gas project includes drilling five additional wells in the gas field which has an estimated 300 billion cubic feet of proved reserves; the construction and operation of gas processing facilities; the construction and operation of approximately 140 miles of gas and 65 miles of natural gas liquid (NGL NGL - A dialect of IGL. ) pipelines; and the construction and operation of NGL fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. and storage facilities. The power project includes the construction and operation of a 155 megawatt gas-fired thermoelectric power plant located in Aguaytia and approximately 250 miles of high voltage electric transmission lines. The electric transmission lines, the largest privately owned in Peru, will provide electricity to the main grid from Aguaytia in the central jungle crossing the Andes to the coast north of Lima. Aguaytia Energy will begin construction of the gas and power project in August 1996 and expects the project to commence commercial operations by the first quarter of 1998. CONTACT: Maple Resources Corp., Dallas Cristina Sanchez, 214/880-0400 |
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