Partnership may be formed to purchase Belo Monte project

RIO DE JANEIRO, Brazil 8/31/09 (PennWell) — Brazil’s CPFL Energia is considering a partnership with power group Neoenergia to bid for a stake in the proposed Belo Monte hydro project on the Xingu River, according to reports.

The hydro project, which is planned for Brazil’s northern state of Para, will be auctioned in October and will be the country’s second-largest hydropower facility.

The project’s cost has more than tripled, according to Eletrobras, the government-owned electric utility in Brazil. (HydroWorld 8/13/09) The cost has risen from $3.6 billion to $11 billion because Eletrobras decided to increase the plant’s capacity from 5 GW to 11.2 GW.

If the auction proceeds as planned, Belo Monte is expected to be completed by April 2014.

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