“Through participating in this Power Purchase Agreement (PPA) auction, SN Power underlines a continued commitment to investing in the region in general and in Peru in particular”, says Øistein Andresen, CEO of SN Power.
“Peru with its continued prosperity and growth potential is an important market for SN Power,” he continues.
Cheves has been approved and registered to generate carbon credits under the UN’s Clean Development Mechanism (CDM). Through generation of renewable energy, Cheves will displace some of Peru’s thermal power production, and the UN confirms the project will reduce global CO2-emissions by an estimated 394.000 tons annually. The CDM-approval and registration was a decisive factor for the realisation of the Cheves project.
The Cheves Hydropower Project is located on Rio Huaura about 130 km by air north of Lima. The Project has a valid definitive concession, environmental approval, archaeological clearance for the generation component, and other permits and concessions in progress. An action plan for community relations has been initiated, and the local communities have accepted construction of the Project.
SN Power already owns and operates 271 MW of hydropower generation in Peru through its 100% owned subsidiaries SN Power Perú S.R.L, Cahua S.A. and Electroandes S.A.
