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Eletrobras announces interest in Sao Manoel, Itaocara hydropower projects

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Brazil's state-owned power company Eletrobras has announced its intention to bid on a pair of large hydropower projects in the country's upcoming A-5 power auction, president Jose da Costa Carvalho Neto said.

Speaking during a recent press conference, Carvalho Neto said Eletrobras (NYSE: EBR) will bid for the 700-MW Sao Manoel and 145-MW Itaocara projects, both of which are located in Brazil's Mato Grosso state.

"We are already looking at these projects to give us as much time as possible," Carvalho Neto said. "We are interested, especially in projects that are already structured."

The A-5 auction takes place December 13 and could include five other hydropower projects as well, assuming developers can obtain necessary licenses.

Carvalho Neto also indicated a possible partnership with Chinese company State Grid in developing the transmission line for Brazil's 11.2-GW Belo Monte hydropower complex.

The December A-5 power auction is Brazil's second of the year. The previous was held in August.

For more news from Brazil, visit here.

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