Brazil regulator Agencia Nacional de Energia Eletrica (ANEEL) has approved the final reorganization of one of Brazil’s oldest hydro-owning utilities, with the transfer of hydro concessions and licenses from Energisa S.A. to hydropower operator Brascan Energetica S.A.
ANEEL approved the transfer in August of 11 operating hydro projects totaling 45.37 MW.
Brascan’s parent firm, Brookfield Asset Management of Canada, announced in July that Brascan was acquiring the 11 operating plants, plus a development pipeline of greenfield hydro projects totaling 188 MW located in Brazil’s Minas Gerais State. (HNN 7/13/07) Brascan is to pay 292.9 million reais (US$150 million) for the portfolio.
Energisa is the holding company of the Cataguazes-Leopoldina Group, founded in 1905.
Restructuring mandated by Brazil’s new Electricity Sector Law required utilities to separate their generation functions from their transmission and distribution functions. As a result Cataguazes’ Energisa S.A. unit was transformed into a holding company controlling its distribution utilities, its thermal and hydro generating companies, and Cat-Leo Construcoes, the group’s hydro operation, maintenance, construction, and equipment company.
Operating plants transferred include: 21.6-MW Joao Camilo Penna (formerly called Cachoeira do Emboque), 5-MW Coronel Domiciano, 1.28-MW Mauricio, 6.46-MW Neblina, 1.41-MW Sinceridade, 6.97-MW Ervalia, 416-kW Matipo, 768-kW Roca Grande, 302-kW Cachoeira Alta, 736-kW Miguel Pereira, and 424-kW Santa Cecilia.
All power produced by the operating plants is sold under long-term power contracts. Brookfield said the deal is expected to close before the end of October.