New World Power Investment, S.A.

MIGA issued New World Power Corporation (NWP) a $2.3 million guarantee covering NWP's $2.6 million equity investment in Salto Andersen Generación Hidraúlica, S.A. MIGA insurance covers the risks of currency transfer and expropriation.

NWP proposes to develop a seven-megawatt hydroelectric power plant adjacent to the Salto Andersen diversion dam, on the Río Colorado River in the state of Río Negro. The project will have low capital and operating costs and a short construction period and will use an environmentally sustainable source of renewable energy. Operation of the new generators will not affect the river flow because the generating equipment will be constructed on the existing surplus flow bypass. Similarly, because the project will not divert water flow, impacts on the aquatic habitat will be minimal.