Investors in the 210-MW Serra do Facao hydroelectric project signed an agreement January 3 creating a special purpose company to begin construction of the project on the Sao Marcos River in Brazil’s Goais State.
Government-owned utility Furnas Centrais Eletricas, which owns 49.5 percent of the 800 million real (US$372 million) project, formed Sociedade de Proposito Especifico Romania with other owners, Alcoa (35 percent), Departamento Municipal de Eletricidade de Pocos de Caldas (10 percent), and Camargo Correa (5.5 percent). (HNN 11/23/05)
Furnas said Romania will be responsible for management of construction of the hydro plant and transmission lines, as well as pertinent socio-environmental mitigation programs.
Construction is expected to begin in early 2007, with completion in 2010
To promote harmonious relations with local communities, Furnas said the developers intend to adopt a series of initiatives aimed at sustainable development of the region.