Italy’s Enel acquires 22 Brazilian hydro projects

Enel Latin America has reached agreement with Brazil’s Rede Empresas de Energia Eletrica S.A. to purchase 11 small hydropower operating companies holding concessions for 22 mini-hydropower projects totaling 97.68 MW.

The unit of Italian utility Enel said June 9 it would pay 450 million reais (US$196.2 million) for the companies, which are owned by Grupo Rede affiliates Rede Power do Brasil S.A. and Tocantins Energia S.A.

The companies being purchased were identified as Quatiara Energia, Vale Energetica, Apiacas Energia, Braco Norte Energia, Cuiaba Energia, Juruena Energia, Primavera Energia, VP Energia, Alvorada Energia, Socibe Energia, and Isamu Ikedu Energia. The projects are located in the states of Mato Grosso, Tocantins, and Sao Paulo.

Closing of the deal is subject to several conditions, including approval of Brazil’s regulator, Agencia Nacional de Energia Eletrica.

Enel Latin America has two hydro plants in Costa Rica totaling 30 MW, two operating plants totaling 63 MW and two more under construction totaling 110 MW in Guatemala, and another two totaling 87 MW operating in Chile.

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