IBT GROUP OF MIAMI SUBSIDIARY HYDRIKA GENERACIÓN LAUNCHES CONSTRUCTION OF MINI-HYDROELECTRIC POWER PLANTS IN PAMPAS, PERU

MIAMI – Oct. 21, 2016 – IBT Group of Miami announced that Hydrika Generación SAC, an IBT Group subsidiary, laid the foundation stone for the construction of access routes that will pave the way for the company to build six mini-hydroelectric power plants in the mountainous Ancash region of Peru.

“We expect the electricity generated by the plants will help to close the gap between real demand and lack of capacity in the area. Clean energy from hydroelectric power plants can be generated at competitive prices, which will contribute to the growth and development of the region,” said Daniel Toledano, managing director of IBT Group in Miami.

The first phase will consist of building two access roads to support the machinery needed to carry out construction of the hydroelectric power plants. The initial work will require an investment of $4.7 million with completion expected by Jan. 31, 2017. The cost to build the plants, which together will have a total installed generating capacity of 55.7 megawatts, is $140 million.

Hydrika has the most mini-hydroelectric power plants under development in Peru. Five of the plants – Hydrika 1, 2, 3, 4 and 5 – will be located in the Pampas district to serve an area of about 2.4 square miles. The sixth plant – Hydrika 6 – will be built in the province of Pallasca adjacent to Pampas. Hydrika Gernacion was awarded the contract with the Peruvian state for the sale and supply of the generated electricity.

Eugenio Julca, vice president of the rural peasant community of Pampas in the Pallasca province, attended the ceremony and noted that the Hydrika project represented an economic boost for the area and an opportunity for the people in the community. The governor of the Ancash region, Nolasco Rosales, also attended.

Hydrika signed social agreements with both the rural district of Pampas and the province of Pallasca with the aim of contributing to the socioeconomic development of the area, consistent with IBT Group’s policy of social responsibility to improve the quality of life of the local population.

About IBT Group

IBT Group is a group of companies that specialize in the development of public works and the implementation of construction and equipment projects for public institutions. IBT Group provides integral solutions ranging from the engineering, studies, design and construction to the sale, delivery and installation of equipment with the subsequent training, maintenance and operation. More than 40 years of experience worldwide in the construction field guarantee IBT Group’s reliability and know-how, enabling it to provide the highest standards of quality in each one of its projects and contribute the development and progress by respecting the environment within a framework of constant innovation. Headquartered in Miami, IBT Group has subsidiaries in Madrid and Paris, in addition to permanent local offices in 31 countries spanning every continent worldwide. The Group’s workforce totals more than 4,500 employees. For more information, please visit www.ibtgroup.com.