GDF SUEZ gets approval for €2.44 billion finance for major hydro project in Brazil, GDF SUEZ
Release Date: 2009-02-19
February 19, 2009 - The Brazilian development bank BNDES (Banco Nacional de Desenvolvimento Econômico e Social) has approved a 20 year loan of BRL7.2 billion (approximately €2.44 billion) for GDF SUEZ to finance the Jirau project, a 3.300 MW greenfield hydroelectric power station.
The loan is the largest ever granted by the Brazilian development bank, and covers 68.5% of the total €3.3 billion investment in the Jirau plant.
In May 2008, the Consortium Energia Sustentável do Brasil, which is made up of GDF SUEZ (50.1%), Eletrosul (20%), Chesf (20%) and Camargo Corrêa (9.9%), bid BRL 71.4 (€27.5) per MWh for a 30-year agreement with electric power distributors. This represents a guaranteed turnover of €9.6 billion over 30 years, starting from 2013.
Jirau will contribute to the growing demand for electricity in Brazil (about 4,500 MW per year), and is currently the largest energy infrastructure project in the country.
GDF SUEZ’s subsidiary Tractebel Energia is Brazil’s leading private power producer. 85% of Tractebel Energia’s total energy output comes from renewable energy sources such as hydro-electricity, wind and biomass.
Source: GDF SUEZ
| Type: | NORMAL |
| Company: | GDF SUEZ |
| Country: | France |
| Url: | http://www.gdfsuez.com/en/medias/press-releases/press-releases-single-view/article/36/gdf-suez-obtient-un-accord-de-financement-de-24/ |