Brazil’s national development bank has approved 540 million reais (US$330 million) in financing for construction of two hydroelectric projects on the Verde River totaling 201 MW.
Banco Nacional de Desenvolvimento Economico e Social (BNDES) said it is supplying more than 70 percent of the total 749 million reais (US$457.9 million) investment in 108-MW Salto and 93-MW Salto do Rio Verdinho, both on the Verde River in Brazil’s Goias State. (HNN 7/2/07)
Rio Verde Energia S/A, a unit of Triunfo Participacoes e Investimentos S.A., is developing the Salto project at Itaruma, while Rio Verdinho Energia S/A, a unit of CBA of Grupo Votorantim, is developing Salto do Rio Verdinho at Cacu.
Triunfo won concession contracts for both projects in a 2002 privatization auction, promising to pay an annual fee of 450,000 reais (US$160,000) for Salto and 410,000 reais (US$146,000) annually for Salto do Rio Verdinho.
BNDES approved 290 million reais (US$177.3 million) in financing for the Salto project, corresponding to 71.2 percent of the total investment of 406.7 million reais (US$248.6 million). The investment includes construction of 22.8 kilometers of transmission line.
Financing for Salto do Rio Verdinho is 250 million reais (US$152.8 million), 73 percent of the total investment of 342.4 million reais (US$209.3 million).
BNDES predicted a series of hydropower projects will be developed in the southern part of Goias State that will total 1,600 MW. It added that a transmission line also will be constructed to deliver their electricity.