Brazil’s AES plans power generation expansion

AES Brasil is seeking to increase its overall power generation capacity, with the plan including the development of a 550 MW gas-fired power plant.

Chief Executive Officer Britaldo Soares said the company wants to expand through new projects and acquisitions, growing assets in the thermal, wind and solar power segments.
"Our strategy is to expand in these three areas, both with greenfield projects and looking at opportunities of acquisitions in the market," Soares told Reuters in an interview.

The gas-fired thermal power plant is to be located in São Paulo state, if prices in an upcoming power auction are attractive. The idea is to import liquid natural gas and use state-run oil company Petroleo Brasileiro SA's regasification terminals, he said.

Soares believes Brazil is on the cusp of an upsurge in gas-fired power generation and he hasn’t ruled out the company building its own regasification terminal as an option.

AES Brasil may consider bidding for Petrobras' portfolio of thermal power plants should they be put up for sale as part of a $13.7 billion asset divestment plan for the next two years.

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