US$65 million for Termoflores SA

(Bogota, April 14, 2009).- The Andean Development Corporation approved a US$65 million long-term loan for the electricity utility Termoflores SA ESP to cofinance its expansion project.

CAF President & CEO Enrique Garcia said, "this operation will stimulate the growth of the company, optimize its performance and improve levels of competitiveness."

The expansion project involves conversion of the Flores II and III simple-cycle generating units to combined cycle, with the addition of a steam turbine and two steel generators to raise total capacity from 441 to 610 MW.

Termoflores SA, which is owned by Compañía Colombiana de Inversiones (Colinversiones), operates three thermal generation units in the city of Barranquilla.