The Inter-American Investment Corporation (IIC) will invest $12m for the construction and operation of two hydropower plants in Colombia. The two plants are El Molino (19.9 MW) and San Matías, with the same installed capacity. Both facilities will be located in the Antioquia region.

Energy Monitor Worldwide reports that PCHS Los Molinos, formed by Panamanian company Lareif, will be in charge of the projects.

The plants are expected to be operational by 2016 and together will produce 244 GWh per year.

IIC is a unit of the Inter-American Development Bank (IDB).