Brazil's Furnas increasing hydroelectric project development to meet World Cup, Olympic demands

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A recent operations report from Furnas said the Brazilian utility will increase its hydroelectric project investments in an effort to meet the anticipated demand caused by the 2014 FIFA World Cup and 2016 Olympic Games -- both of which are being hosted by the South American country.

The plan will be put to a shareholder vote April 29 and call for investments of US$3.3 billion. That mark is up about $265 million from the previous budget period.

The money primarily benefit the 3,140-MW Santo Antonio, 1,850-MW Teles Pires, 334-MW Simplicio and 52.2-MW Batalha hydropower projects, Furnas said, increasing the company's installed capacity to 17 GW.

For more Brazilian news, visit here.

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