Brazilian developer Triunfo Participacoes e Investimentos has received regulatory approval to begin commercial operation of the main units at the 192-MW Garibaldi hydropower plant.
The go-ahead comes about 16 months before the January 2015 deadline set by the Agencia Nacional de Energia Eletricqa (ANEEL).
Triunfo said about 70% of the project's output has already been sold under a 30-year concession contract for US$58 per/MWh.
Garibaldi will be operated by Triunfo subsidiary Rio Canoas Energia. The project is located on the Canoas River in the southern state of Santa Catarina.
HydroWorld.com reported that Brazil's Bank of Economic and Social Development, BNDES, had paid the second part of a $108.4 million loan to the developer in January.
For more news from Latin America, visit here.