GDF Suez, through its subsidiary Tractebel Energia, inaugurated a 1,087 MW hydroelectric power plant at Estreito in Brazil.
Estreito is owned by Tractebel Energia (40.07 percent), Vale (30 percent), Alcoa (25.49 percent) and Intercement (4.4 percent). Tractebel Energia is responsible for the operational management on behalf of the consortium.
Total investment in the project is approximately 2.1 billion Euro ($2.76 billion), with debt financing through 24-year loan agreements provided by the Brazilian Development Bank (BNDES) and a group of Brazilian banks.
GDF Suez sold its 256 MW stake of guaranteed energy output in the Estreito plant at the Brazilian power auctions in October 2007 in the form of 30-year power purchase agreements with distribution companies, starting from 2012.
Tractebel Energia also owns and operates the 243 MW Sao Salvador and the 450 MW Cana Brava hydroelectric power plants that are located upstream from the Estreito plant.
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