Hydro plant green lighted after 30-year wait
Bnamericas Published: Monday, August 09, 2004
Brazil's Rio Grande do Sul state governor German Rigotto signed financing contracts Friday for the conclusion of the Furnas do Segredo hydro plant, which has been on the shelf for the last 30 years, the state government said in a statement. A consortium of the state's development agency CaixaRS Fomento Econômico e Social and state-owned bank Banrisul will use funds from national development bank BNDES to provide 16.1mn reais (US$5.3mn) to the 9.2MW project, which is now expected to start commercial operations in March 2005. Total costs are 29.2mn reais. The project lies on the Jaguari river, and company Jaguari Energética - owned on a 70:30 basis by Guascor Serviços and local distributor CEEE - will buy 100% of the power generated. The project has a 28-year operations concession.
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