Brazil reschedules upcoming hydroelectric power auction

Brazil Map

A Brazilian energy auction that includes about 6 GW of cumulative hydroelectric power capacity has been postponed to November 6, according to the country's Ministry of Mines and Energy.

Terms and conditions of the auction were announced by Brazil's National Energy Policy Council (CNPE) earlier this week, though the ministry said it will increase the number of concessions to be offered while also reducing the number of projects included in some of the auction's lots.

"We were presented with some suggestions that we decided to adopt," Minister Eduardo Braga said. "They are small details. The prices won't change. These changes will provide greater competition and transparency in the auction."

The auction, originally scheduled for October 30, offers 30-year concessions for 29 hydropower projects located in states Sao Paulo, Minas Gerais, Goias, Parana and Santa Catarina.

The Brazilian government announced earlier this week that it expected to net about US$4 billion through signature bonuses signed by winning bidders.

For more from Brazil, visit here.

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