Consorcio Transmantaro S.A.

MIGA issued two guarantees totaling $81 million to Hydro-Quebec International, Inc. (HQI) for its investment in Consorcio Transmantaro S.A. (CTM) to construct and operate an electrical transmission line between two departments in Peru. MIGA insurance covers the investment against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves designing, constructing, and operating a 220 kilovolt electrical transmission line that links Peru's central Mantaro region with the southern Socabaya region. The project will create a large interconnected Peruvian electricity grid that will enhance reliability, reduce end user tariffs, and meet peak power shortages experienced by industrial plants. The Mantaro-Arequipa transmission line will use proven alternating current technology, widely recognized as one of the most efficient ways to transmit energy.

The project will employ 30 permanent local staff who will receive training in Peru and at HQI's facilities in Canada. Throughout construction, the project will employ an estimated 300 local workers. Improvements to the area's infrastructure include constructing access roads that get workers and equipment to work sites.