Celeo has been awarded the “500 kV Transmission Line Piura Nueva – Frontera Substation” project to provide the electrical interconnection between Peru and Ecuador.
On 31 July 2023, Celeo was awarded the project “500 kV Transmission Line Piura Nueva – Frontera Substation”, promoted by the Private Investment Promotion Agency (Agencia de Promoción de la Inversión Privada – PROINVERSIÓN, Peru’s public executive body) commissioned by the Ministry of Energy and Mines.
The award was granted after winning the public tender against other operating companies with a bid representing a service cost of USD 14.43 million (almost 13.1 million euros).
The licence was awarded in the PPP modality (Public-Private Partnership) implying a service provided by the private to the public sector. The project encompasses the financing, construction, operation, and maintenance for 30 years of the transmission line that will depart from the Piura Nueva Substation in Peru and travel 270 kilometres to the border with Ecuador. This new project guarantees the electrical interconnection between Peru and Ecuador. It is estimated to come into operation in 2027, thereby increasing the security of the power supply and guaranteeing an energy exchange at more competitive prices, thanks to the hydraulic complementarity that exists between the two countries. The investment moreover represents the first binational electrical interconnection project between Peru and Ecuador.