Brazil to save over $2bn thanks to pending hydro contracts

Quoting Marcio Zimmermann, the energy secretary, BNamericas reports that hydropower contracts due to be signed next year will cut Brazil’s power generation costs by up to $

Existing plants earmarked for auction include the 807.5 MW Tres Irmaos facility, which is seen as an important project and is due to come on-line next year.

It was handed-back by Cesp, a Sao Paulo-based utility, last year.

An auction for the hydroelectric facility is due to held at the end of this month, with generators able to bid for a 30-year operating concession.

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