Overview of Cascade
Cascade Hydro Limited (Cascade) is a British developer, constructor and operator of run-of-river hydropower projects.
The company was established in 2011 to develop a portfolio of hydro-electric plants in Peru primarily based on sub 20 MW renewable energy resources (RER) power purchase agreements (PPAs) awarded by the Peruvian government. It assembled a portfolio of 200 MW of small hydro run-of-river projects of which 35 MW were fully developed with PPAs awarded through a public tender.
Cascade also acquired the large 255 MW Santa Rita Power Project in northern Peru in anticipation of future national tender rounds for larger hydro power plants.
Cascade’s first constructed hydro power plant was the 5.1 MW Canchayllo power plant in Junin. The plant was built by Cascade’s Peruvian in-house construction subsidiary and it commenced commercial operation on schedule on 31 December 2014. In July 2015 the fully operational Canchayllo hydro plant was sold to Union Group of Uruguay.
In 2013 Cascade submitted three projects for PPAs of 30 MW in total into the third RER tender round and was successful with all three projects being awarded PPAs in early 2014. However, due to capital constraints, Cascade only proceeded with the 15 MW Colca power project. In 2018 all third round RER project PPAs were cancelled by the Government of Peru leaving Cascade and the other international project developers no choice but to take the Ministry of Energy and Mines to arbitration. Cascade has placed all of its projects on ice and is now re-tasking its operations to develop run-of-river hydro projects internationally using the knowledge and experience which it gained in Peru,
Cascade became a subsidiary of IPC in 2021 and now serves as the group’s flagship developer of renewable energy projects.
You can find out more on Cascade by visiting company webstire at https://cascade-hydro.co.uk