IADB to Lend $150 Million for Odebrecht’s Peru Hydropower Plant

Dec. 1 (Bloomberg) -- The Inter-American Development Bank approved a $150 million loan for the construction of what will be Peru’s second-biggest hydroelectric plant.

A unit of Brazil’s Odebrecht SA is building the $1.2 billion plant, which will produce 406 megawatts, the Washington- based lender said in a statement on its website today. The plant’s output will represent 13 percent of Peru’s hydropower capacity once it is completed in 2016, the bank said.

--Editor: Robert Jameson

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net