10 February 2012: The Inter-American Development Bank (IDB) will co-finance the restoration and modernization of Haiti’s Péligre hydroelectric plant, through grants for US$32 million.

The project plans to restore the plant’s original 54 MW capacity by repairing its turbines and improving electromechanical equipment. Investments will also be made to upgrade the power transmission line connected to Port-au-Prince as well the capital’s electricity distribution network. The project is also co-financed by the German development finance agency KfW, and Organization of the Petroleum Exporting Countries’ (OPEC) fund for international development, for a total of US$48.8 million. [IDB Press Release]