Completed Mixed AidData Chinese Aid

[China-Venezuela Joint Fund] CDB Funds Five Power Generation Projects in Venezuela (Linked to Record ID#58677, 37808, 37804, 91235, 91293, 91086, and 91257))

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|China-Venezuela Joint Fund
Country	Venezuela
Start Date	Jan 01, 2010
End Date	Feb 04, 2028
Duration	6,608 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37833`

Grant Description

[China-Venezuela Joint Fund] CDB Funds Five Power Generation Projects in Venezuela In the 2010 the China-Venezuela Joint Development Fund Gran Volumen (long term facility) funded $5.5 billion for five power generation projects. 55% of the 10 billion USD committed in the long term facility will be used for these 5 projects, valued at 5.54982 billion USD.

The projects are: USD 1.465 billion for Planta Centro 600 MW rehabilitation - Record ID#91235 USD 711339862.47 for construction of El Chorrín hydroelectric plant - Record ID#91293 USD 1.045 billion for construction of El Vigia (Don Luis Zambrano Thermoelectric) power plant - Record ID#91086 USD 1.116 billion for construction of TermoCarabobo I (El Palito) power plant - Record ID#91257 One unnamed 600 MW coke-fired plant in Anzoátegui in the Orinoco belt This is a subproject to #37808 and #37804.

The China-Venezuela Joint Fund receives contributions from China Development Bank and FONDEN, and it is administered by BANDES. See Record ID#58677 for more information on the fund. The first commitment to this fund was made in 2007.

📋 Staff Comments

1. This project is linked to project ID#s58677, 37808, 37804, 91235, 91293, 91257, and 91086.

📚 Sources & References

China to finance Venezuelan power projects with USD 5.55bn - Cadafe, the El Vigia Combined Cycle Power Station was successfully combined to the grid(比西亚联合循环汽轮机组并网发电)
EL VIGIA COMBINED CYCLE POWER PLANT AND TRANSMISSION LINE PROJECT IN VENEZUELA
Company News
Venezuela in Talks With China on Power Projects After Shortages
El Vigia 570MW Combined Cycle Power Plant
China-Latin America Finance Database
Construcción de plantas termoeléctricas El Palito y La Cabrera registran 70% de avance
Gaceta Oficial de la Republica Bolivariana de Venezuela
China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
Se prevé $5.542 millones para la construcción de cinco plantas
Primer tramo del financiamiento chino destinará 55% de recursos a generación eléctrica Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.