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Canoas I and Canoas II seek buyer

Brazil’s aluminium producer, Companhia Brasileira de Aluminio (CBA) is in the market to acquire a 100% stake in the Canoas I and Canoas II hydro power plants, currently owned by Sao Paulo based utility Cesp Paranapanema.

The two power plants both sited on the Paranapanema river, have a total capacity of 154MW, and were the first power plants in Sao Paulo state to operate with horizontal bulb type turbines.

The two plants are part of a complex of eight which are all due to be privatised by the Sao Paulo state government.

In 1995 CBA bought a controlling 50.3% stake in the Canoas plants. The remaining 49.7% is all currently held by Cesp.