The President of Costa Rica and the CEO of Gas Natural Fenosa inaugurate the Torito Hydroelectric Power Plant
- The commissioning of this new 50 MW power generation facility makes GAS NATURAL FENOSA, through its international generation subsidiary Global Power Generation (GPG), the largest private electricity producer in the Central American country.
- The new power plant required an investment of over 190 million dollars, including construction and the implementation of various social action initiatives in the area. The project also created more than 600 direct jobs during construction.
The President of Costa Rica, Luis Guillermo Solís, and the CEO of GAS NATURAL FENOSA, Salvador Gabarró, inaugurated the Torito Hydroelectric Power Plant, which has an installed capacity of 50 megawatts (MW) and will be operated by the Spanish multinational energy company for a period of 20 years through its subsidiary Global Power Generation (GPG).
In 2008, the Costa Rica Electricity Institute (ICE in Spanish) awarded the construction and operation of the plant to the Spanish multinational energy company, which required an investment of more than 190 million dollars.
With the commissioning of this second power plant, the energy multinational will add another 100 MW in the Central American country, making GAS NATURAL FENOSA, through GPG, the largest private electricity producer in the country.
During the inauguration, the CEO of GAS NATURAL FENOSA, Salvador Gabarró, explained that “this power plant represents the efforts of our energy group to bring continuity to investments in the country, and is another example of our interest in contributing to the economic, energy and social development of this region”.
The power plant construction project represented a major, continuous effort in engineering, supervision and assembly to ensure the quality of the supply contracted.
Construction work on the power plant allowed us to create more than 600 direct jobs, while thousands of people benefited from the indirect jobs created.
GAS NATURAL FENOSA aims to accelerate and enhance growth in its power generation business internationally in those places where the need for new power generation is expected to concentrate in the near future.
For this purpose it created GPG, in which the Kuwait Investment Authority (KIA) has a 25% stake. Today the subsidiary has a generation capacity of over 3,100 MW in operation, a significant part of which is in Latin America, and a workforce of 800 professionals.
GPG, which combines the generation assets of GAS NATURAL FENOSA outside Europe, also operates another plant in the country, the La Joya hydroelectric power plant, with 50 MW of installed capacity and which was registered by the United Nations in 2007 as a Clean Development Mechanism (CDL) project.
In addition to the two hydroelectric power plants in Costa Rica, GPG includes the group’s international generation assets in Mexico, Puerto Rico, Dominican Republic, Panama and Kenya. These assets use technologies that range from combined gas and engine cycle power plants, as well as wind and hydraulic power plants. It is also responsible for various wind power projects under development in Australia; and operates over 800 MW of generation power plants for third parties.
Scope and subject: America, Electricity business