GenRent of Brazil has successfully won the tender for a 70 MW heavy fuel oil power plant in Iquitos, Peru.

The project, with a total value of $100m, is due to commence operation within 30 months of the signing of the contract.

The concession was granted in the form of a build-own-transfer (BOT) project, with GenRent responsible for designing, financing, constructing, operating, as well as providing maintenance for the new thermoelectric plant for a period of 20 years.

In addition to the construction of the plant, the scope of work includes the construction of a 60 kV transmission line.

According to Proinversion, the government agency responsible for the promotion of private investment, the Brazilian company won the project after “offering the lowest remuneration per power unit proposed”, reports Global Post.

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