Management of GENA:

Achievements during the management:
  • GECSA signed financing contract with GENA in which was granted a credit line of $ 40 MM.
  • GECSA normalized the operation of the plant and Re-negotiated the initial contracts, ensuring a profit for the company.
  • Created an administrative structure that ensured a going-concern and hired top managers.
  • Repayment of the $20 MM in debts that the GENA had with the spot market.
  • 2012 the shareholders capitalized the company by $20 MM and $140 MM in 2013.
  • The company won a tender and signed new PPA contracts for power sales of $60 MM in 4 years, burning Diesel.
  • Generated a record 399 GWh in 2013 of and net income of $13 MM.
  • Signed a PPA contract in bidding: ETESA-04-12, ETESA-05-12, ETESA-08-13.
  • Signed a PPA contract in 2014 for power purchases until 2016 with a profit estimated at $50 MM, burning Diesel and Propane (bidding ETESA-08-13).

Participation in the tender ETESA-01-13:

In 2013, with GECSA and some companys from Korea “SK Engineering & Construction” and “Korea Southern Power Co. (KOSPO)” participated in the tender ETESA No. 01-13 with TERMOGAS Project, which consisted in a 350 MW power plant with Natural Gas.

Participation in the tender ETESA-01-15:

In 2015, GECSA and the company from Spain “TSK” and “SIEMENS” participated in the tender ETESA No. 01-15 with TERMOGAS Project, which consisted in a 350 MW power plant with Propane.

Participation in the tender ETESA-02-15:

In 2015, GECSA`s team participated in the tender ETESA No. 02-15 with GTPP, to build a 400 MW power plant, with Natural Gas:

  • The proposal was the lowest offer out of the 14th presented in the public event.
  • On December 10th 2015, was awarded with a 350 MW Power Purchase Agreement, and has been working on the development of GTPP project.

During the last five years, our group has been awarded 4 different tenders and PPAs using Diesel, Propane and LNG.

Company Tender N° Awarded Item Duration (Years) Fuel
GENA ETESA-04-12 Power Only 3.0 Diesel
GENA ETESA-05-12 Power Only 4.0 Diesel
GENA ETESA-08-13 Equivalent Power 3.0 Diesel Propane
MARTANO ETESA-02-15 Firm Power And Energy 15.0 Natural Gas

More recently , in September 2016, GEPSA provided advisory services to the US company "APR ENERGY" to participate in the ETESA-02-16 tender.