CAF loans Edelca US$100mn for transmission

The Andean Development Corporation (CAF) has approved a US$100mn loan to finance part of the US$324mn transmission investment plan of Venezuela's state power company Edelca over the next five years, the CAF said in a statement Tuesday. The loan is for eight years with a two-year grace period. The funds will go mainly to the high-voltage and regional transmission networks and the distribution system, the statement said. The high voltage transmission network forms part of the country's national grid, the regional transmission network specifically serves the producing and oil centers in the Guayana region, and the distribution system takes in the cities of Puerto Ordaz and San Felix, where Edelca is working with state-owned power company Cadafe to develop residential power distribution, the statement added.