Brazil's Parana state power firm Copel has signed the concession agreement with the Brazilian mines and energy ministry to build and operate the 300-MW Colider hydropower project, news agencies reported.

Under the agreement, Copel will invest about 1.3 billion reais (US$778 million) in the hydroelectric project, Business News Americas reported.

The Colider hydro plant will be located in the Brazilian center-western state of Mato Grosso. The plant is planned to come online in December 2014.

Copel won the hydro project in a government auction in July of last year. The company offered the lowest power rate for the project at 103.40 reais/MWh, Business News Americas previously reported.

In other news, Brazilian utility sector regulator Aneel recently authorized commercial operations at one of the two generator units at the 19.4-MW Figueiropolis small hydropower plant.

In a regulatory filing, Aneel okayed operations at the generator unit 1 with 9.7 MW of installed capacity.

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