Aug. 5 – SACE is supporting Astaldi with $ 65 million in financing for the hydroelectric plant of Cerro del Aguila, in Peru. SACE is an insurance and financial group that supports the growth and competitiveness of Italian firms in the world; in Astaldi’s case, the funding will come from the Sumitomo Mitsui Banking Japanese bank. The contract for the construction of a new hydroelectric power plant was initially awarded in 2011 to Astaldi, in a joint venture with the Peruvian company Grana y Montero, and is now under construction. The project involves the construction of a concrete dam from 380 thousand cubic meters and related civil works, including an underground power station with 510 MW of installed capacity, 9 km of tunnels and 60 kilometers of access roads. According to a SACE analysis, Peru is currently one of the most promising markets in Latin America, thanks to a growth potential that, with an average growth in GDP of 7.3% in the last three years, will be at the center of international attention in the coming years. The government is also providing for the allocation of $ 20 billion by 2016 to finance the implementation of strategic projects to support the development of the country: highway infrastructure, stations and energy that can be transformed into commercial opportunities for Italian companies still not present in the country.
