Associations support EPM

Company News    Dec 7, 2021 6:23 PM

EPM’s Jorge Andrés Camilo Cardoso met with representatives of the public utilities sector associations to discuss the steps being taken to continue with the Hidroituango project.

Carillo presented an overview of the project, the progress to date and the legal uncertainties that have resulted from the second instance ruling of the Comptroller’s Office, La Republica reported.

“We had a very good meeting with the manager of EPM and his entire work team. They gave us detailed information about the project and the company’s finances,” Acolgen’s Natalia Gutierrez Jaramillo said.

She said that the biggest conclusion is that this project has to go ahead.

“We have to unite all of us to accompany EPM, which has been characterized by having technically fantastic people. I think that is the message after the information we received,” Gutiérrez said.

The entities that attended the meeting were: the Colombian Association of Electric Power Generators (Acolgen); the Colombian Association of Electric Power Distributors (Asocodis); the Colombian Association of Natural Gas (Naturgas), the Colombian Association of Large Industrial and Commercial Energy Consumers (Asoenergía) and the Colombian Association of Sanitary and Environmental Engineering (Acodal).

The representatives of the associations agreed in expressing their satisfaction with the report presented by the entity and the alternatives proposed to continue with the work.

Asocodis’ José Camilo Manzur Jattin said that it is important to support EPM to meet the planned goals.

“Considering the importance of the project for Colombia, we call on the whole country to support EPM and to continue making the necessary efforts so that the project is not delayed,” Manzur added.

Bottom-Line: Of course, the project needs to go ahead. Not only does the country need the power but the hundreds of thousands of people living downstream need to be assured that the dam is stable. But EPM needs more than support to meet the advance with the project.

The company has just announced a US$450M debt payment, clearly affecting its cash flow and limiting its ability to invest in the mega-project.

Ah, and the possible change of contractors is a major challenge to overcome…

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