EDF confirms 400 MW Brazil hydro acquisition

French energy firm EDF has secured a 51 percent stake in Brazil's 400 MW Sinop hydroelectric project from local developer Alupar.

A preliminary agreement for the takeover in September was confirmed by EDF in a statement on Friday following approval from Brazil's antitrust authority Cade, according to Business News Americas.

The project's other stakeholders are Eletronorte and Chesf, both units of state-run utility Eletrobras.

Located on the Teles Pires River in Brazil's western state of Mato Grosso, the plant is expected to begin operating in the second half of 2017.

Sinop's construction and operating contract was secured by the consortium during an auction in August 2013.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs