Eletrobras to Make Bid for Peru Hydro Projects

Centrais Eletricas Brasileiras, the government-owned electric utility in Brazil, said it plans to purchase a Peruvian energy company so it can bid for two hydroelectric dam projects in Peru.

Eletrobras, Latin America’s largest utility, said the acquisition is part of a plan to invest $30 billion over the next four years.

The acquisition comes after Eletrobras failed to negotiate a partnership with Peru’s state-owned electric utility to build the two dams. The acquisition will allow Eletrobras to participate in the auction of both projects.

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