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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
New World Power Investment, S.A.
Project ID
2513
Fiscal year
1996
Status
Not Active
Guarantee holder
New World Power Corporation
Investor country
United States
Host country
Argentina
Sector
Power
Gross exposure
 $2.2 million
Project type
Non-SIP

MIGA issued New World Power Corporation (NWP) a $2.3 million guarantee covering NWP's $2.6 million equity investment in Salto Andersen Generación Hidraúlica, S.A. MIGA insurance covers the risks of currency transfer and expropriation.

NWP proposes to develop a seven-megawatt hydroelectric power plant adjacent to the Salto Andersen diversion dam, on the Río Colorado River in the state of Río Negro. The project will have low capital and operating costs and a short construction period and will use an environmentally sustainable source of renewable energy. Operation of the new generators will not affect the river flow because the generating equipment will be constructed on the existing surplus flow bypass. Similarly, because the project will not divert water flow, impacts on the aquatic habitat will be minimal.

 
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