The construction of Hidroituango, the most important hydroelectric project in Colombia and one of the most prominent in the region, reached a new milestone.
The work reached 84.3 % progress, the same level it had before the 2018 disaster, Valora Analitik reported.
Hidroituango advances in the construction of the hydroelectric power plant after the contingency that occurred in the powerhouse, which forced a rethink of the project schedule.
In addition, EPM’s Jorge Andrés Carrillo Cardoso said that the project has made progress in the three years of recovery, La Republica reported.
“The areas flooded have been recovered, including the powerhouse and the complex of tunnels and caverns, the damage and the work required to complete the recovery and stabilization of Hidroituango has been identified with greater precision,” Carrillo said.
The company expects to generate commercial net revenues between CoP$1.5T and CoP$1.7T from 2025, depending on market conditions and prices.
Bottom-Line: Uncertainty over Hidroituango remains high, despite EPM’s efforts to send messages of tranquility.
The cost overruns have already had an effect on EPM’s rating, and the company will have to continue its efforts to change this situation and move forward with this important project.