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[China Venezuela Joint Fund] China Funds USD 2.178 Billion India Urquia Power Plant (linked to Record ID#58677)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | May 01, 2009 |
| End Date | Aug 23, 2033 |
| Duration | 8,880 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 91468 |
Grant Description
China Venezuela Joint Fund Funds USD 2.178 Billion India Urquia Power Plant in 2009 The China-Venezuela Joint Fund sponsored the USD 2.178 billion India Urquia Power Plant (also known as TermoCentro or El Sitio).
The contract was signed in May of 2009, so the plant was funded by either Tranche A (Record ID#35985) or Tranche B (Record ID#37528) of the China-Venezuela Joint Fund (see Record ID#58677). The project also received funds from FONDEN and Corpoelec.
A 2013 budget report from the Ministry of People's Power for Planning put the total project cost at USD 1,744,374,460.56. A National Assembly commission from 2018 put the total project cost at USD 2.78 billion. The contractor was Duro Felguera of Spain. The contract was signed in May of 2009. Construction began in October of 2009.
The first phase of construction involved the installation of four 150 MW Siemens turbines, for a total installed capacity of 560 MW. This phase was completed on September 18, 2013. The second phase involved installing two combined cycles in October of 2016, for a total of 1,080 MW. The project was somewhat delayed, as the original plan was for all construction to be completed by the end of 2013.
The plant was active as of 2018. Venezuelan officials visited the plant in 2020, and it was still functioning. A representative from Duro Felguera appeared before the National Commission in 2016 to discuss the plant.
A 2018 extradition decision on the case of Nervis Gerardo Villalobos Cárdenas mentioned that he was being charged in Venezuela for awarding the TermoCentro contract to Duro Felguera after receiving a EUR 46 million bribe.
In 2018, Spain charged Duro Felguera and some of its executives with paying USD 105 million in bribes to secure the TermoCentro contract.
Staff Comments
- No transaction amount is provided because it is captured by project ID#58677.
- It appears that this plant is part of the broader TermoCentro complex. It's unclear what the names of the other plants are and if they were funded by the Joint Fund.
Sources & References
- Autoridades inspeccionan Planta Termoeléctrica India Urquía en Miranda
- Termoeléctrica India Urquia genera 510 MW aplicando sistema a gas
- Complejo Generador Termocentro
- Supervisan trabajos de mantenimiento mayor en Planta Termoeléctrica India Urquía
- Spain Energy
- ANTECEDENTES DEL CASO
- Spain
- Presupuestos y Memoria y Cuenta 2010-2013
- Planta eléctrica India Urquía reforzará sistema eléctrico en la región capital
- Entra en operación la central de generación eléctrica de Termocentro, ejecutada por DF en Venezuela
- COMISIÓN MIXTA PARA EL ESTUDIO DE LA CRISIS ELÉCTRICA EN EL PAÍS INFORME FINAL 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.
All Grantees
Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund
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