Brazil’s national development bank has approved financing of 170 million reais (US$96.27 million) for the 67.14-MW Monjolinho hydroelectric project on the Passo Fundo River in Rio Grande do Sul State.
Banco Nacional de Desenvolvimento Economico e Social (BNDES) said November 13 that it will provide 72 percent of the total investment in the project. Developer Engevix began construction in May, with commercial operation expected in December 2009. (HNN 5/14/07) Monjolinho will have a reservoir of 5.46 square kilometers and a maximum turbine outflow of 126 cms.
Engevix Engenharia S.A., the engineering-procurement-construction contractor, awarded a US$5.8 million contract to GE Energy in 2004 to supply two 35-MW Francis turbines and two 13.8-kV, 37.5-megavolt-ampere vertical axis generators. State environmental regulatory Fundacao Estadual de Protecao Ambiental (Fepam) granted an installation license for the project in March.
State officials said Monjolinho, with investment of BNDES, will result in 220 million reais (US$104.9 million) in economic benefit to the region. In Brazil’s October 2006 power auction, Engevix developer unit Monel Energetica Monjolinho sold 42 MWa at 122.63 reais (US$56.74) for delivery in January 2011.