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Consortium wins hydro concession

Agencia Nacional de Energia Electrica (ANEEL) of Brazil has awarded a 35-year concession to a consortium formed by Companhia Vale do Rio Doce (CVRD), Serra da Mesa Energia, and Companhia Estadual de Eneergia Eletrica (CEEE), to build and operate the 855MW Foz do Chapeco hydroelectric power plant in the country.

The concession requires the developer to bring the first unit of the power plant on line within 84 months from the date of the contract being signed. The price paid by the consortium involves annual installments of US$7.5M from the eighth to the thirty-fifth year of the concession.