Enelven secures financing for Termozulia power project

Venezuela's Zulia state power utility Enelven has secured $ 123 mm financing for its 300 MW Termozulia thermoelectric project, Enelven said.
The government has had to increase thermoelectric power to compensate for the hydro shortage stemming from a drought affecting the Guri plant, which normally meets 60 % of national demand.

The US Export Import Bank has guaranteed an $ 87.5 mm Standard Chartered Bank loan to the government for the project, and Venezuela's government has already made a $ 52 mm payment for the project.
Enelven has 1,100 MW installed capacity, of which 750 MW is available. Even with the start of the Termozulia expansion, set for April-May 2003, the utility's generation capacity falls short of its 1,850 MW demand.

General Electric will supply two 7FA gas turbines, with a nameplate 171 MW capacity. An industry source told that these would be transported to the site, at La Canada de Urdaneta, in October.
Enelven will call for bids for installation of the machinery, spokesperson Carlos Canelones told. Site preparation will begin in October.