Projects Overview

Econergy International is positioning itself as a leading Independent Power Producer (IPP) focused on developing, building, owning and operating renewable power plants throughout the Americas. We currently have one project in operation and five projects under construction, representing 266 MW in capacity. These projects include hydro power, wind power and coal mine methane, and range from Bolivia in South America to Pennsylvania in the United States.

We anticipate continued strong demand for wind power and hydroelectric projects in Latin America and for an evolving array of clean energy and clean tech projects in the US, positioning Econergy International for significant growth in the years to come.

All of Econergy’s projects contribute to the global reduction of greenhouse gas emissions, through avoidance of fossil fuel-fired electricity or methane destruction. Wherever possible, Econergy attempts to generate carbon credits, whether Certified Emissions Reductions or Verified Emissions Reductions, depending on the region.

In Operation

Econergy International has one project currently in operation – the 147-MW Corani hydroelectric project in Bolivia. Please click on the Corani link to see a detailed description of the plant.

Empresa Eléctrica Corani, S.A., Bolivia (Corani)

In early February 2007, Econergy International acquired Duke Energy International’s 50% ownership share in Empresa Eléctrica Corani, S.A., a leading electric power generating company in Bolivia. Corani owns and operates a large reservoir and two associated hydroelectric generating stations which have combined capacity of 147 MW and produce, on average, about 750,000 MWh gross of energy annually. Because of its large reservoir, the company is able to produce power year-round and remains one of the lowest cost producers in the country. The company is a critical component of the Bolivian electricity sector, producing about 20% of total electricity demand. Corani sells electricity into the wholesale market, which pays generators for both energy and capacity.

Operationally, Corani achieved a 98.1% availability factor for 2007. And in keeping with its high standards in environment, health and safety, the company maintained a zero incident rate through 2007.  At December 2007 the reservoir capacity was higher than the historical average with good inflows as the rainy season continued. 

In Construction

Econergy International currently has five projects in construction throughout the Americas: three projects in construction in Brazil, one in Costa Rica, and one in the United States. Please click on the project links for more detailed information.

Hidreléctrica Areia Branca, Brazil

Construction on the 19.8 MW Areia Branca hydroelectric project in Brazil is well underway with 55% of the civil works complete, 80% of the environmental works complete, and manufacturing and procurement of the electro-mechanical equipment on schedule. Located on the Manhuaçu River in the state of Minas Gerais, the project is a run-of-the-river design, and is being constructed by a consortium of Brazilian engineering companies under a turnkey EPC contract. The project is on schedule to be completed for a planned October 2008 commissioning. The Areia Branca project is classified as a small hydro project and has a 20-year power purchase agreement with Eletrobrás under the Brazilian government-sponsored PROINFA program. The PROINFA program establishes a fixed tariff plus annual escalation.

In January 2008 Econergy International signed a project finance agreement with Brazil’s Banco Nacional de Desenvolvimiento Econômico e Social (BNDES). The BNDES loan represents 66.4% of total project costs.

Proyecto Eólico Guanacaste, Costa Rica

In May 2006, Econergy International and its partners submitted a bid to supply 49.5 MW of wind energy to Instituto Costarricense de Electricidad (ICE) in a competitive tender for a 20-year Build, Own, and Operate and Transfer contract. Econergy International’s consortium was selected by ICE and subsequently secured the necessary land for the project. The consortium has a signed agreement with Enercon GmbH to supply fifty-five 900kW wind turbines and is in the process of finalizing remaining contracts for the project. In December 2007 PEG signed a 20-year power purchase agreement with ICE. Additionally, the consortium signed a project finance mandate with Nord/LB for non-recourse project debt.

Econergy owns a 45.9% interest in the project, however, is in negotiations to acquire an additional 6% of the project which would result in a controlling interest. PEG is expected to generate, on average, approximately 245,000 MWh gross per year, having one of the highest capacity factors for a wind project. The project will be built in two phases with the final commissioning in late 2009.

Pedra do Sal Wind Project, Brazil

In August 2007, Econergy International signed an equipment purchase and installation agreement with Wobben Windpower Indústria e Comércio Ltda. to install twenty 900 kW wind turbines for the 18 MW Pedra do Sal wind project in the state of Piauí, Brazil. Econergy owns 100% of this project.

Very similar to Beberibe, the Pedra do Sal project will operate under a 20-year PROINFA power purchase agreement with Eletrobrás. The project is expected to enter into commercial operations in the first quarter of 2009.

Beberibe Wind Project, Brazil

In April 2007, Econergy International signed an equipment purchase and installation agreement with Wobben Windpower Indústria e Comércio Ltda., the Brazilian subsidiary of the German company Enercon GmbH, to install thirty-two 800 kW wind turbines for the 25.6 MW Beberibe wind project in the state of Ceara, Brazil. At December 2007 the balance of the plant and the civil works required to support the generating units were complete. The Group has now acquired 100% of this project from the original developer.

The project will sell all of its output to Eletrobrás under a 20-year PPA as part of the PROINFA program, and will be one of the first PROINFA wind projects. Construction on the project is well underway and Econergy expects to begin start-up tests by the end of March 2008 and to enter into commercial operations by the close of the third quarter of 2008.

Cambria, USA

In 2007, Econergy International entered into an agreement to acquire a 50% interest in the Cambria project, a joint venture with Vessels Coal Gas Inc. The project will capture and use methane emissions from a retired coal mine near Pittsburgh, Pennsylvania. As of May 2008 Cambria is operational and selling pipeline gas via the local interstate pipeline, Dominion Peoples. The project will generate revenue from the sales of natural gas and carbon credits as Verified Emissions Reductions (VERs) which are sold in the U.S. and European voluntary markets. The project is estimated to sell approximately 300 million cubic feet of natural gas annually over the 12 year life of the project. Furthermore, Econergy International and Vessels have executed a Memorandum of Understanding to develop additional coal mine methane projects that will generate VERs through the sale of electricity and gas.

In Development

Part of Econergy International’s strength lies in its ability to originate and develop projects throughout the Americas, given our physical presence in the markets and our knowledge of the industry. Currently we have multiple projects in late-stage development that will serve to continue to build on our initial success in getting several projects in operation and under construction. Econergy also maintains a robust pipeline of projects ranging from biomass and methane in North America to hydro and wind in the Southern Cone.