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Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 27396
Colombia (IDA)
Sector1Gas - Thermal Power Generation
Environmental categoryB
Date SPI disclosedDecember 23, 2008
Projected board dateMarch 2, 2009
Previous EventsInvested: November 13, 2009
Signed: September 30, 2009
Approved: September 21, 2009
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The project consists of the construction of a 169 MW gas-fired combined cycle unit by Termoflores S.A. E.S.P. (“Termoflores” or “the Company”), a generation company whose operations are located in Barranquilla, Colombia. Currently, Termoflores has three natural gas-fired units in operation, (the Flores I combined-cycle and the Flores II and III open-cycle) with a total installed capacity of 441 MW. Flores IV includes the expansion/conversion of the existing gas turbines in Flores II and III from open cycle to a combined cycle facility, by adding a new steam turbine generator, heat recovery steam generator and balance of plant equipment. Flores IV will utilize the waste heat from Flores II and III to provide 169 MW of additional capacity without using significant additional gas. After the project is completed, Termoflores will have two operating units (Flores I and Flores IV) with a generation capacity of 610 MW. The estimated construction time is 25 months and project completion must be attained before December 1, 2010.

The project was granted a fixed 10-year period reliability charge payable over the firm capacity provided by the project.

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