• Connect With Us:
  • Brazil development bank funds 1,087-MW Estreito

    Brazil's national development bank has approved financing of 2.6 billion reais (US$1.4 billion) for construction of the 1,087-MW Estreito hydroelectric project on Brazil's Tocantins River.

    Banco Nacional de Desenvolvimiento Economica e Social (BNDES) said December 20 the funding would be provided to the companies forming the Estreito development consortium Consorcio Estreito Energia (Ceste). The consortium awarded a 230 million euro (US$326.6 million) contract in October to Impregilo of Italy and OAS Engenharia of Brazil to build the project's dam and powerhouse. (HNN 10/17/07)

    BNDES said it will provide 72.6 percent of the total project investment of 3.6 billion reais (US$2 billion).

    Consortium member Renova Energia Renovavel, a unit of Suez Energy South America, is to receive from BNDES 1.049 billion reais (US$590.8 million), half directly and half indirectly. Those resources will be refinanced by Unibanco, Itau-BBA, Bradesco, and Banco Votorantim.

    Consortium member Companhia Vale do Rio Doce will receive financing of 808.3 million reais (US$455.2 million), Alcoa Aluminio will receive 687.3 million reais (US$387.1 million), and Camargo Correa will receive 116.2 million reais (US$65.4 million).

    Estreito construction started in early 2007 and is expected to be complete in late 2010. In a government-organized power auction October 16, a pool of electricity distributors bought 256 MW from Estreito at a maximum price for delivery between 2012 and 2042. (HNN 10/18/07)

    Hydro Industry Financials

    Most Read Articles

    Recent Comments

    Buyers Guide Companies

    Synergy Holdings Inc

    Renewable energy for residential, commercial, m...

    WorleyParsons – Brasil

    Zollern Transmissões Mecânicas Ltda

    Manufacturers of plain bearings, hydro power be...

    Potencia Industrial SA

    Manufactures hydroelectricelectric generators r...

    Rubberart Artefatos de Borracha Ltda

    Specializes in rubber seals for power generatio...

    Continuing Education

    Professional Development Hours
    To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

    Volume 32, Issue 10
    Volume 22, Issue 1

    Archived Articles

    2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
    Hydro Review Past Issues

    Premium Content AD Promo Space