Cerro del Aguila SA, a Israel Corporation unit, has agreed to build a 510-megawatt hydroelectric power station in Peru at an investment of $680 million.
The Cerro del Aguila power station, located in Tayacaja Province in central Peru, in March signed a 15-year power purchase agreement with Peru's government-owned electricity company, which will come into effect when the power station is completed in the second half of 2015.
Israel Corporation is Israel's largest holding company. Fifty of its manufacturing activities and 70% of its consolidated revenues derive from global operations. Its core holdings are fertilizers and specialty chemicals, energy, shipping and transportation.