Bolivian utility Empresa Nacional de Electricidad has taken over development of the 200-MW Miguillas hydropower project, following the cancelation of a deal with the plant's former constructor.
Spanish firm Corsan Corviam, which won a contract to build the Miguillas in October 2014, must now repay close to US$120 million in guarantees to Ende, according to Bolivian officials.
The state-run Ende will now replace Corsan Corviam through its subsidiaries, though the Bolivian government said only the project's turbines and generators will be put out for tendering.
According to the engineering-procurement-construction contract awarded to Corsan Corviam in 2014, the project is to include two hydro plants, name Palillada and Umapalca.
ENDE took expressions of interest for the work in August 2014. Banco Central de Bolivia lent US$450 million to ENDE and Bolivia's Ministerio Hidrocarburos y Energia in June of the same year for its construction.
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