Tractebel acquires two small Brazil projects

— Tractebel Energia S.A. has agreed to acquire two small hydropower projects in Brazil totaling 50.3 MW for a total of 203.9 million reais (US$126.6 million).

Tractebel said July 9 that its Florianopolis-based subsidiary, Gama Participacoes Ltda., is to acquire all the capital stock of Tupan Energia Eletrica. Sao Paulo-based Tupan is authorized by Brazil regulator Agencia Nacional de Energia Eletrica (ANEEL) to operate the 26.6-MW Rondonopolis hydroelectric project, which has been in operation since December 2007.

Gama also is to acquire all the stock of Rondonopolis-based Hidropower Energia S.A. Hidropower is authorized by ANEEL to operate the 23.7-MW Engenheiro Jose Gelazio da Rocha hydro project, in operation since February 2007.

In addition to the 203.9 million reais purchase price, Tractebel Energia is assuming the companies’ debt totaling 110 million reais (US$68.3 million).

Tractebel Energia said completion of the acquisition is subject to certain conditions, including approvals of the Tractebel board, ANEEL, and the projects’ electricity customer, federal utility Centrais Eletricas Brasileiras S.A.

The utility said the acquisitions represent a positive step in its Brazilian growth strategy and will have operational synergy with Tractebel’s 176-MW Ponte de Pedra hydroelectric project on the Correntes River. (HNN 12/17/07)


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