EDP sells hydroelectric projects in Brazil to China Three Gorges

Energias do Brasil S.A. (EDP Brasil), the subsidiary of EDP - Energias de Portugal, S.A., has completed the sale of 50% stake in the company holding the rights to develop the 373MW Jari hydro power plant project, and 50% in the company holding the rights to develop the 219MW Cachoeira Caldeirão hydro power plant project, both in Brazil, to CWEI Participações Ltda., a subsidiary of China Three Gorges (CTG).

The total amount of the transaction, paid by CWEI to EDP Brasil was R$420.6 million (US$189.8 million), of which R$420.2 million on the sale of 50% stake in Jari hydro power plant project and R$0.4 million on the sale of 50% stake in Cachoeira Caldeirão hydro power plant project.

The Santo Antonio do Jarí Hydroelectric Power Plant, currently under construction, has been conceived as part of the Brazilian National Interconnected energy System and is designed to achieve 373 MW of installed capacity. The Jarí hydroelectric power plant is being developed in the States of Pará and Amapá in the Jarí River.

The hydroelectric dam consists of 3 Francis-type generating units with an installed capacity of 370 MW and one Bulb-type generating unit with an installed capacity of 3.4MW. The connection to the national network will be done by means of a 20 km long 230 KV High Tension Line, also part of the project to connect Jarí Hydroelectric dam with the Laranjal do Jarí Substation, and with the High tension Lines of the System Tucurui-Macapá-Manaus.

The US$360 million power plant is expected to be operational in 2015.

The Cachoeira Caldeirão hydro power plant is located on the Araguari river in Ferreira Gomes municipality, northern Amapa state. It has three turbines. EDP Brasil planned to invest BRL 1.219 billion (US$517.1 million) in the plant. The company won the concession at a governmental A-5 auction held in December 2012. Under the terms of the contract, EDP had to start supplying electricity from the HPP to local distributors as of January 1, 2017.