General Electric do Brasil and Inepar Industria E Construcões have formed a joint venture to serve Brazil’s hydropower market. GE Brasil will own 60% of the new venture and Inepar will own 40%.
The joint venture, called ge-hydro Inepar do Brasil, went into operation at the end of January, and operates from São Paulo, Campinas and Araraquara. The new venture is headed by Daniel Gagne, who was previously manager of projects for GE Hydro.
Hydro accounts for over 90% of Brazil’s 59 GW capacity at present, and is expected to play its share in increasing capacity by 2-3GW/year over the next decade. GE Hydro Inepar do Brasil aims to meet that need with design, engineering, manufacturing, marketing and service for projects up to 700MW in size. GE Canada will provide technology and operating management for the venture, while Inepar will provide increased market access — Inepar is said to be one of Latin America’s leading entrepreneurial companies.
Speaking about the venture, Michael Popielec, general manager of GE Hydro, said ‘Through licensing agreements, GE Hydro has been active in Brazil for more than 25 years and our technology currently represents about 20% of the installed base of hydropower in the country. Our new joint venture with Inepar represents a further commitment by GE to the growing and very promising Brazilian hydropower market’.