Gas, Hydroelectric

Conoco invests in Colombian plant

Issue 2 and Volume 101.

Conoco invests in Colombian plant

Conoco Global Power Inc., Western Resources` The Wing Group and a group of the “Sindicato Antioqueno” companies announced their investment in a 160 MW, natural gas-fired power plant in Barrancabermeja, Colombia, developed by Merrill International, Ltd. The $80 million plant is expected to begin commercial operation in December 1997.

The project investment group will function under the Colombian public services company, Merilectrica, originally established by Merrill International Ltd., which will maintain a minority ownership in the project. Construction of the plant at Barrancabermeja will begin immediately under a turnkey contract with Westinghouse, which will supervise work by Tipiel, a Colombian contractor.

Approximately 78 percent of Colombia`s energy is provided by hydropower, which has been scarce in times of drought, opening a viable supply and demand period for other sources of power. It is estimated by the Energy Information Administration that Colombia`s demand for power has been growing at close to 6 percent annually since 1992.