Brazil bank finances 243.2-MW Sao Salvador

Brazil’s national development bank has approved 570 million reais (US$264.7 million) in financing for construction of the 243.2-MW Sao Salvador hydroelectric project on the Tocantins River in Brazil’s Tocantins State.

Banco Nacional de Desenvolvimento Economico e Social (BNDES) said it is supplying 67.25 percent of the total 847.7 million real (US$393.7 million) investment. Of that 380.1 million reais (US$176.5 million) is to be refinanced by five financial agents, Unibanco, Bradesco, Itau BBA, Santander, and Votorantim.

Sao Salvador’s development company, Companhia Energetica Sao Salvador (CESS), is controlled by Suez Energy South America Participacoes Ltda., the Brazilian unit of French-Belgian Suez-Tractebel. Operation and maintenance will be the responsibility of Tractebel Energia S/A.

In Brazil’s October auction of new energy, CESS sold firm energy of 148.5 average MW in 30-year contracts for 135.01 reais (US$62.70) per MWh, with delivery foreseen in 2011. (HNN 10/12/06)

In 2002, Tractebel Energia awarded a US$162 million contract to Odebrecht of Brazil to build Sao Salvador. Voith Siemens Hydro Power Generation was commissioned to supply turbines and related equipment. Tractebel had won a concession to build the project and operate it for 35 years in a 2001 auction by Brazil’s Agencia Nacional de Energia Eletrica.

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