Engie is taking over operations of the 424-MW Jaguara and 408-MW Miranda hydroelectric projects, both located in Minas Gerais state in Brazil.
Engie, which is based in France, acquired these projects for US$1.1 billion at an auction held in September by Companhia Energetica de Minas Gerais (Cemig) and they have been operated jointly since that time. Engie says the change in management will not have any impact on the plants, which supply electricity to the national grid.
Jaguara is on the Grande River and was constructed between 1966 and 1971. Miranda is on the Araguari River and was commissioned in 1998.
Cemig lost operating rights to these plants, along with 380-MW Volta Grande and 1.71-GW Sao Simao, when the company refused the terms of controversial energy sector reforms enacted by former president Dilma Rouseff.
Earlier this year, Engie issued its second Green Bond, valued at US$1.6 billion, with the proceeds to be used to finance renewable energy projects that include hydroelectric plants.