Schwager Energy formed a 50/50 joint venture between its hydro unit and local firm Puntiagudo to develop its Los Pinos small hydro project in region X. Under the joint venture, Puntiagudo will provide the land and water rights for the project while Schwager carried out the project's engineering studies which are complete. The project is expected to produce 15GWh/y. The company expects to receive notice on a request to connect the project to the central SIC grid in November 2013 and is working on the project's EIA which it plans to submit in December 2013. Schwager is looking to secure USD 8 million in bank funding required to begin construction in the first half of 2014, with commercial operations startup expected in the second half of 2015.