China Three Gorges big winner in Brazil's hydropower plant auction

Brazil Flag

An auction held today for the operating rights of 29 Brazilian hydropower projects has netted the government more than US$4.5 billion.

The auction -- which consisted of plants with expired or nearly expired licenses -- will put about $2.9 billion into the Brazilian government's pockets before the end of the year, with the remainder to be paid within 180 days, per rules established by Brazil's National Energy Policy Council (CNPE) in September.

Power conglomerate China Three Gorges Corp. was the biggest player in the auction, paying more than $3.6 billion for a lot that included the 1,550-MW Jupia and 3,444-MW Ilha Solteira hydroelectric plants. In return, CTG will receive annual revenues of about $632 million, subject to periodic review.

Other winning bidders include (all capacities listed in MW):

  • Enel Green Power, awarded rights to Maurao 1 (8.2) and Paranapanema (31.5);
  • Copel Geracao e Transmissao, awarded rights to Governador Pedro Viriato Parigot de Souza (260);
  • Companhia Energetica de Minas Gerais (Cemig), awarded rights to Ervallia (6.9), Coronel Domiciano (5), Camargos (46), Itutinga (52), Sinceridade (1.4), Neblina (6.5), Cajaru (7.2), Gafanhoto (14), Marmelos (4), Joasal (8.4), Paciencia (4), Piau (18), Peti (9.4), Dona Rita (2.4), Tronqueiras (8.5), Marins (7.7), Salto Grande (396) and Tres Marias (396);
  • Celg, awarded rights to Rochedo (4) for $4.24 million; and
  • Celesc Geracao, awarded rights to Garvia (8.6), Bracinho (16.5), Rio dos Cedros (7.4), Salto Weissbach (6.3) and Palmeiras (24.6).

The power auction was to have been held by power regulator Agencia Nacional de Energia Eletricqa (Aneel) in October, but was delayed multiple times.

For more news from Brazil, visit here.

 

 

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

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

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 ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs