ANEEL sanctions MPX acquisition of major natural gas-fired power projects

Source: MPX 

Brazil-based MPX has announced the acquisition of the Bertin MC2 Joinville and MC2 João Neiva projects. Both have been granted authorizations for construction of natural gas-fueled thermoelectric power plants with a total 680-megawatt (MW) capacity, and sanctioned by the Brazilian National Agency of Electrical Energy (ANEEL).

MPX will build the plants at the Parnaíba power generation complex, in the municipality of Santo Antônio dos Lopes, where the company already holds an installation license to develop 1,863 of gas-fired capacity. MPX plans to invest about R$ 980 million (US$611 million) in plant construction, generating 1,000 job opportunities.

Construction work on the plants should begin shortly and is slated to be completed and operating by January 2013. These plants have 15-year contracts for 450 average MW, ensuring a R$ 393,5 million (US$ 245 million) fixed annual revenue. MPX owns a 70 percent stake in the complex along with partner Petra Energia which owns the remaining 30 percent.

“The construction of these plants will be essential to assure power supply to Brazil and represents a significant expansion of MPX power generation complex. The Parnaíba complex will be a major power generation center in Brazil as 3.722 MW have already been licensed”, MPX CEO Eduardo Karrer said.

The natural gas needed for plant consumption will come from region onshore blocks whose resources are estimated to reach over 11 trillion cubic feet, of which MPX owns a 23 percent interest. These blocks will be operated by OGX Maranhão.

As construction of the plants is set to start in the near future, MPX has already launched an important qualification program in partnership with the National Industrial Training Service (Senai) and local city halls. Last week 198 people completed the training program offered and the target is to get this figure up to 500, thus increasing the chances of hiring local labor for the energy complex.

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