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Brazil bank approves loan for Batalha hydro project

Brazil's national development bank has approved a 224 million-real (US$125 million) loan for federal power company Furnas' 52.5-MW Batalha hydropower project, wire services reported.

Part of the financing will go to build a 75-kilometer transmission line to connect the plant to the national grid at the Paracatu 1 substation, which belongs to power holding group Cemig, the lender said in a statement. Local construction firm Camargo Correa is building the hydro plant, which is due to come online next year.

Batalha will use water from the Sao Marcos River that divides the states of Goias and Minas Gerais. The project is part of the government's growth acceleration program.

In other news, Brazil's 210-MW Serra do Facao hydropower plant is projected to come online within three months, the president of project developer Serra do Facao Energia consortium told wire services.

The Serra do Facao hydro project initially was planned to come online in October 2010.

The plant is located in the Brazil's center-western state of Goias.

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