Finance Colombia » Hidroituango

Interview: EPM’s SINPRO Labor Union President Olga Lucia Arango Expresses Grave Concerns On Utility’s Leadership, Political Interference

Olga Lucia Arango, the president of EPM's largest labor union does not mince words when she expresses her union's concern over alleged mismanagement and political interference at the Medellín-based multinational utility operator. She has a message for the utility's bondholders,...

Posted On October 8, 2020

, By Loren Moss

Hidroituango spillway photo courtesy EPM

EPM’s Hidroituango: New Report By Independent Geological Engineering Expert Challenges Existing Narrative

This is the abridged version of a new independent technical study of the Hidroituango Hydroelectric Dam project tunnel collapse on Colombia's Cauca River by Canadian geological engineering expert Dean Brox. According to Mr. Brox, serious design flaws and critical decisions led to...

Posted On October 5, 2020

, By Dean Brox

From Tomato-Thrower To Banana Republican, Can Medellin’s Mayor Daniel Quintero Learn Good Governance (Please?): Op-Ed

Only 8 months into his term as mayor of Medellín, tomato-throwing Daniel Quintero has managed to unite Paisas from labor unions to corporate giants against him.Multiple boards of directors have resigned, and Fitch has downgraded the city-owned utility's credit, citing 'governance...

Posted On September 1, 2020

, By Loren Moss

In Deepening Crisis At EPM, Labor Union Demands CEO Explain Private Gym, Luxury Office Remodel Despite Austerity Orders

Adding to the turmoil at EPM (Empresas Públicas de Medellín) since Medellín’s mayor Daniel Quintero took office and appointed CEO Álvaro Guillermo Rendón (above photo), the utility’s primary labor union SINPRO has issued a public demand for information on Rendón’s alleged...

Posted On August 25, 2020

, By Loren Moss

Turmoil At EPM Deepens As Colombia’s Human Rights Tribunal Subpoenas General Manager

EPM's General Manager Alvaro Guillermo Rendón has been given 5 days to respond to a subpoena from Colombia's human rights tribunal, which has been seeking information regarding EPM's handling of the remains of conflict victims at its troubled Hidroituango dam.

Posted On August 25, 2020

, By Loren Moss

Fitch Downgrades EPM, Citing “Deterioration Of Corporate Governance” After Medellín Mayor’s Usurpations

After the entire board of directors resigned in protest of Medellín Mayor Daniel Quintero's usurpation of board prerogative and corporate governance, international ratings firm Fitch has downgraded EPM's credit rating, and placed it on a negative ratings watch.

Posted On August 17, 2020

, By Loren Moss

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

The board’s resignation left the utility’s CEO, Álvaro Guillermo Rendón trying to explain to the media and public why the entire board of directors resigning or the mayor’s actions are nothing to worry about.

Posted On August 17, 2020

, By Loren Moss

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Termocandelaria’s Proposed Bond Reopening Rated BB+ By Fitch

Fitch Ratings has assigned a ‘BB+’ rating to TermoCandelaria Power Ltd.’s proposed notes reopening of up to $200 million USD under its 7.875% senior unsecured notes due 2029. TermoCandelaria initially issued $410 million in senior unsecured notes in January 2019...

Posted On January 13, 2020

, By Loren Moss

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US Government Experts Assess HydroItuango & Rio Cauca Environmental Conditions By Invitation of Colombia’s National Environmental Licensing Authority

At the behest of Colombia’s National Environmental Licensing Authority (ANLA) scientists from the United States government spent two weeks in Colombia observing and analyzing the environmental impacts of the Hidroituango contingency, the troubled hydroelectric dam construction...

Posted On July 30, 2019

, By Loren Moss