Private investment promotion agency (Proinversión) has awarded the 500 kV Transmission Line Substation of Piura Nueva - Frontera public-private partnership (PPP) project to Celeo Redes SLU. Celeo Redes SLU offered a total investment of US$107.6 million and annual O&M costs of US$1.06 million. 

The project involves the design, financing, construction, operation and maintenance of a 500 kV transmission line in Peru, from the Piura Nueva substation to the border crossing point in Ecuador, and the expansion of the Piura Nueva substation. 

The project concession period includes 46 months for construction and commissioning and 30 years for operation. The interconnection will increase the capacity and security of power supply between Peru and Ecuador in the event of natural disasters such as earthquakes and floods. 

The project will also promote the exchange of cheap energy between the two countries.  It is planned that in 2027 the interconnection could be put into operation.