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IC Power wins $1 billion power plant deal in Peru

IC Power has won a government tender worth $1 billion over 20 years to build a power plant in Peru that will provide reserves for the national power grid, IC Power's parent company Israel Corp said on Sunday. Current power consumption in Peru is 5,500 megawatts and the new plant will provide an additional 590 megawatts, Israel Corp said. IC Power is involved in producing some 35 percent of Peru's electricity, the company said.

Under the deal, IC Power will build the plant in Mollendo, a town in southern Peru, by 2016. In the first stage, it will produce 590 megawatts via diesel.

Copyright Reuters, 2013


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