The Yacyretá Dam or Jasyretâ-Apipé Hydroelectric Power Station (from Guaraní jasy retã, "land of the moon") is a dam and hydroelectric power plant built over the waterfalls of Jasyretâ-Apipé in the Paraná River, between the Paraguayan City of Ayolas and the Argentine Province of Corrientes. The dam is named for Yacyretá Island just upstream, much of which the dam submerged. The word "Yacyreta" is the Hispanicized spelling of the original Guaraní term Jasyretâ. The dam is long, and its installed equipment has a maximum power output of , with a record maximum annual power output of achieved in year 2012, and a maximum water flow rate of 55,000 cubic meters per second. Until February 2011, its reservoir was seven meters below its planned water level, only allowing it to operate at 60% capacity. The project generated controversy and criticism during its planning and construction because of the effects it had on local ecology, particularly the flooding of a unique environment causing the extinction in the wild of several species. The financial management of the project also garnered criticism, as it greatly exceeded its original budget, ultimately costing more than $11 billion. In 2014 Paraguay consumed almost 5 percent of its share of Yacyreta's production, exporting the rest to Argentina. The Yacyreta Dam is managed by the Yacyreta Bi-National Entity, established by treaty between the two countries. Geography Yacyreta is located southeast of Asunción. It is located in the region of a city called Ayolas, downstream from Encarnación and away from the rapids of Apipé. The main dam is near the islands Jasyretâ and Talavera. Chronology The initial protocol to determine the use of the waterfalls was signed on February 1, 1925, in the United States. However, it was not until January 1958 that the Technical Argentine-Paraguayan Commission was created to undertake technical studies of uses of the river. The studies were presented on December 3, 1973, in Asunción and the Treaty of Yasyreta was signed; both countries compromised to embark together in the construction. For that the Bi-National Organization Yasyreta was founded. Each state would share jurisdiction and responsibility for executing studies and projects related to the dam. The construction started on December 3, 1983; on April 26, 1989, agreements were signed that defined the definitive plans for the protection of the valleys and streams to the right side of the river (Paraguay). In June of the same year the