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TaiwanICDF and IDB Work Together to Improve Power Stability in Paraguay
The TaiwanICDF signed the loan agreement and the guarantee agreement on January 27, 2023 with Administración Nacional de Electricidad (ANDE) - Paraguay and the Government of Paraguay for the financing of the High-Voltage Transmission System Expansion Project (Paraguay). Ambassador José Han, Embassy of the Republic of China (Taiwan) to Paraguay, and Deputy Minister of Foreign Affairs of Paraguay Mr. Raúl Silvero Silvagni were invited to witness the signing of the loan.
The electricity supply of Paraguay is mainly sourced from Itáipu Dam (binational hydroelectric with Brazil) and Yacyretá Dam (binational hydroelectric with Argentina), which are both sitting long distances away from major power consumption regions such as the Asunción metropolitan area. The capacity of ANDE’s electricity transmission system is close to the limit, which has affected the security of the system and exacerbated transmission losses. With ever growing power demand, such conditions are posing a threat to the stability of power supply in Paraguay.
To improve the reliability and efficiency of power supply as a means to support the economic growth of Paraguay, the TaiwanICDF provides the financing, on a parallel basis with the Inter-American Development Bank (IDB), to ANDE to expand and optimize the high-voltage transmission system. It is estimated that the electricity supply will increase by 53,257 MWh annually as a result of the project.
“This cooperation between the TaiwanICDF and the IDB is significant”, said Ambassador Han in his remarks. “This financing project would bring benefits to the commerce and industry sectors in Paraguay, create a good climate to attract high quality and durable investments, for example in electric buses, and make great contribution to national development plans.” Vice Minister Silvero indicated that this project demonstrated Paraguay’s stable and long-term diplomatic relationship with Taiwan. Through strategic alliances such as cooperating with international development organizations, Paraguay would be more capable of responding to the challenges for economic development. Ing. Felix Eladio Sosa Giménez, President of ANDE, noted that Paraguay had ample sources of electricity, one hundred per-cent generated by low-carbon energy. He looked forward to continuous information and technology exchanges with Taiwan in the electricity field and welcome Taiwanese companies to invest in Paraguay.
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- Update: 2023/02/16
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