French utility GDF Suez is to build and operate a 400 MW gas fired power plant in Ilo, in southern Peru, through its subsidiary EnerSur, the second largest private electric generation company in the country.
The plant will have an installed capacity of 400 MW and will consist of two open cycle turbines. The plant is due online in 2013.
The concession contract signed with the Peruvian Ministry of Energy and Mines covers a 20-year period. Total revenues will be approximately $700m. The investment in the project is estimated at $200m.
The Ilo project together with other projects will bring GDF Suez’s total capacity in Peru to 1822 MW by the end of 2014.